By Devika Patel
Knoxville, Tenn., July 21 – GS Finance Corp. priced $5.95 million of autocallable contingent coupon notes due Jan. 28, 2025 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon of 5% per year if each index closes at or above its 80% coupon trigger level on the determination date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date beginning on July 19, 2018 and ending on Oct. 19, 2024.
The payout at maturity will be par plus the final coupon unless either index falls more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing index from its 80% buffer level.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $5,951,000
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| Maturity: | Jan. 28, 2025
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| Contingent coupon: | Contingent monthly coupon of 5% per year if each component closes at or above 80% coupon trigger level on the determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than negative 20%, par plus contingent coupon; otherwise 1% loss for each 1% decline of worse-performing index from 80% buffer level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly review date beginning on July 19, 2018 and ending on Oct. 19, 2024
|
| Initial index levels: | 2,473.83 for S&P 500 and 1,441.771 for Russell 2000
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| Coupon trigger/buffer levels: | 1,979.064 for S&P 500 and 1,153.4168 for Russell 2000; 80% of initial levels
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| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 4.9%
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| Cusip: | 40054LJF2
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