By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – GS Finance Corp. priced $503,000 of autocallable contingent coupon notes due Nov. 22, 2024 linked to the iShares MSCI Emerging Markets exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each month, the notes will pay a contingent coupon at the rate of 8.25% per year if each underlier closes at or above 80% of its initial level on the observation date for that month.
Beginning in November 2018, the notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either underlier falls by more than 20%, in which case investors will be fully exposed to the decline of the worse performing underlier from its initial level.
Goldman Sachs & Co. is the underwriter.
| 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: | Russell 2000 index, iShares MSCI Emerging Markets exchange-traded fund
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| Amount: | $503,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 8.25% annualized, payable monthly if each asset closes at or above 80% coupon barrier on review date that month
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| Price: | Par
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| Call: | At par if each asset closes at or above its initial level on any quarterly call observation date beginning in November 2018
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| Payout at maturity: | Par unless either asset falls by more than 20%, in which case investors will be fully exposed to the decline of worse performing underlier
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| Initial levels: | 1,464.095 for index and $45.64 for ETF
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| Coupon barrier/triggers: | 80% of initial levels
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.45%
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| Cusip: | 40055A3L9
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