New Issue: Goldman sells $2.92 million 5.7% contingent coupon callables tied to S&P 500, Russell

By Susanna Moon

Chicago, July 26 – GS Finance Corp. priced $2.92 million of callable contingent coupon notes due July 27, 2022 linked to the lesser 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 semiannual coupon at an annual rate of 5.7% if each index closes at or above its 55% coupon barrier on the observation date for that period.

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

The payout at maturity will be par unless either index falls by more than 45%, 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.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Callable contingent coupon notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$2,917,000
Maturity:	July 27, 2022
Coupon:	5.7% annualized, payable semiannually if each index closes at or above 55% coupon barrier on review date for that period
Price:	Par
Payout at maturity:	If each index falls by up to 45%, par; otherwise, 1% loss for each 1% decline of worse performing index
Call option:	At par on any call review date from January 2019 through January 2022
Initial levels:	2,801.83 for S&P, 1,696.808 for Russell
Trigger levels:	55% of initial levels
Pricing date:	July 20
Settlement date:	July 27
Agent:	Goldman Sachs & Co. LLC
Fees:	0.3%
Cusip:	40055QK84

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