New Issue: Goldman prices $15.77 million 8% contingent income callables on Russell

By Susanna Moon

Chicago, April 20 – GS Finance Corp. priced $15.77 million of contingent income callable securities due April 18, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% if the index closes at or above its 80% coupon barrier on the observation date for that quarter.

The notes are callable at par on any review date after six months.

The payout at maturity will be par unless the index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as the dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Contingent income callable securities
Underlying asset:	Russell 2000
Amount:	$15,768,000
Maturity:	April 18, 2023
Coupon:	8% annualized, payable quarterly if index closes at or above 80% coupon barrier on review date for that quarter
Price:	Par
Payout at maturity:	If index finishes at or above 70% downside threshold, par; otherwise, 1% loss for each 1% decline
Call option:	At par on any quarterly call date beginning Oct. 18, 2018
Initial level:	1,549.509
Coupon barrier:	1,239.6072, 80% of initial level
Downside threshold:	1,084.6563, 70% of initial level
Pricing date:	April 13
Settlement date:	April 18
Agent:	Goldman Sachs & Co. LLC
Fees:	3.85%
Cusip:	40055AUN5

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