By Wendy Van Sickle
Columbus, Ohio, June 7 – GS Finance Corp. priced $2.59 million of callable contingent coupon notes due Dec. 1, 2022 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each underlier closes at or above its barrier level, 55% of its initial level, on the obsevation day during that quarter.
Beginning in September 2017, the notes are callable at par on any coupon payment date.
If the final level of each underlier is greater than or equal to 55% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing underlier.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
|
| Underliers: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
|
| Amount: | $2,585,000
|
| Maturity: | Dec. 1, 2022
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| Coupon: | 7%, payable quarterly if each underlier closes at or above barrier level on observation day during that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of each underlier is greater than or equal to 55% of initial level, par; otherwise, full exposure to decline of least-performing underlier
|
| Call option: | Beginning in September 2017, at par on any coupon payment date
|
| Initial levels: | 3,579.02 for Euro Stoxx 50 and $66.05 for ETF
|
| Barrier levels: | 55% of initial levels
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| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.6%
|
| Cusip: | 40054LCW2
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