By Susanna Moon
Chicago, April 24 – GS Finance Corp. priced $1.5 million of autocallable contingent coupon notes due April 22, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 8.5% if each index closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either index closes below its 80% downside threshold, in which case investors will be fully exposed to any losses of the worse 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: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1.5 million
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| Maturity: | April 22, 2021
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| Coupon: | 8.5% annualized, payable monthly if each index closes at or above 80% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 80% downside threshold, par; otherwise, 1.25% loss for each 1% decline of worse performing index beyond 20%
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| Call: | At par if each index closes at or above its initial level on any quarterly call review date from October 2018 through January 2021
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| Initial levels: | 1,583.562 for Russell and 2,708.64 for S&P
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| Trigger levels: | 80% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 23
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.375%
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| Cusip: | 40055AYD3
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