By Susanna Moon
Chicago, Aug. 23 – GS Finance Corp. priced $2.42 million of autocallable contingent coupon notes due Feb. 25, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5% if each index closes at or above its 80% coupon barrier on review date for that month.
The notes will be called at par if each index closes at or above its initial level on any interest payment date after one year.
The payout at maturity will be par unless either index falls by more than 20%, in which case investors will be exposed to any losses of the worst performing index beyond 20%.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | S&P 500 index and Russell 2000 index
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| Amount: | $2,418,000
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| Maturity: | Feb. 25, 2025
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| Coupon: | 5% annualized, payable monthly if each index closes at or above 80% coupon barrier on review date that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index falls by more than 20%, in which case 1% loss for each 1% decline of worse performing index beyond 20%
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| Call: | At par plus any coupon if each index closes at or above its initial level on any contingent coupon payment date beginning in August 2018
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| Initial levels: | 2,425.55 for S&P and 2,425.55 for Russell
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| Coupon barriers: | 1,940.44 for S&P and 1,086.2344 for Russell; 80% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 25
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.9%
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| Cusip: | 40054LM50
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