By Susanna Moon
Chicago, Jan. 26 – GS Finance Corp. priced $3.47 million of callable contingent coupon notes due Jan. 26, 2022 linked to the least performing of the common stock of American Express Co., Nike, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.45% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes are callable at par on any quarterly valuation date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The guarantor is Goldman Sachs Group, Inc.
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: | Callable contingent coupon notes
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Underlying stocks: | American Express Co. (Symbol: AXP), Nike, Inc. (Symbol: NKE) and Microsoft Corp. (Symbol: MSFT)
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Amount: | $3,473,000
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Maturity: | Jan. 26, 2022
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Coupon: | 9.45% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
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Price: | Par
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Call option: | At par on any quarterly valuation date beginning in July 2018
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Payout at maturity: | Par unless any stock finishes below 60% trigger, in which case 1% loss for each 1% decline of worse performing stock
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Initial levels: | $98.03 for AmEx, $67.21 for Nike and $90.00 for Microsoft
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Trigger levels: | 60% of initial levels
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Pricing date: | Jan. 19
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Settlement date: | Jan. 26
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.55%
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Cusip: | 40055AFA0
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