By Wendy Van Sickle
Columbus, Ohio, July 12 – GS Finance Corp. priced $5.85 million of callable buffered monthly range accrual notes due Dec. 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest accrues at an annual rate of 5.5% for each day that the index closes at or above the barrier level, 80% of the initial index level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for each 1% decline beyond the 80% barrier level.
The notes will be callable at par plus any interest due on any interest payment date on or after June 30, 2018.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $5,851,000
|
| Maturity: | Dec. 30, 2024
|
| Coupon: | 5.5% per year multiplied by proportion of days on which index closes at or above barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% that index declines beyond 20%
|
| Call option: | At par plus interest on any interest payment date on or after June 30, 2018
|
| Initial index level: | 2,440.69
|
| Barrier level: | 1,952.552, 80% of initial level
|
| Pricing date: | June 28
|
| Settlement date: | June 30
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.9%
|
| Cusip: | 40054LEU4
|
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