By Susanna Moon
Chicago, Aug. 2 – GS Finance Corp. priced $7.97 million of callable contingent coupon notes due July 31, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 5.35% if each index closes at or above its 60% barrier level on the observation date for that month.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 60% barrier level, in which case investors will be fully exposed to the decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $7,965,000
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Maturity: | July 31, 2021
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Coupon: | 5.35%, payable monthly if each index closes at or above 60% barrier level on observation date for that month
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Price: | Par
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Payout at maturity: | Par plus final coupon unless either index finishes below 60% barrier level, in which case full exposure to losses of worse performing index
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Call option: | At par on any coupon payment date beginning in July 2018
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Initial levels: | 2,477.83 for S&P, 1,442.279 for Russell
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Barrier levels: | 60% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.8%
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Cusip: | 40054LHZ0
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