By Sarah Lizee
Olympia, Wash., Aug. 2 – GS Finance Corp. priced $390,000 of autocallable contingent coupon notes due Nov. 2, 2020 linked to the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.8% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning in October, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its trigger level during the life of the notes, in which case investors will be fully exposed to the decline of the least-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
|
| Amount: | $390,000
|
| Maturity: | Nov. 2, 2020
|
| Coupon: | 6.8%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and any index has ever closed below trigger level, in which case full exposure to decline of least-performing index
|
| Call: | Beginning in October, automatically at par if each index closes at or above initial level on any coupon determination date
|
| Initial levels: | 1,578.967 for Russell 2000, 3,025.86 for S&P 500 and 3,524.47 for Euro Stoxx 50
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.275%
|
| Cusip: | 40056FRA5
|
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