By Wendy Van Sickle
Columbus, Ohio, July 27 – GS Finance Corp. priced $2.55 million of 8.4% trigger callable yield notes due July 27, 2021 linked to the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless the ETF finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the ETF.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger callable yield notes
|
| Underlying ETF: | SPDR S&P MidCap 400 ETF Trust
|
| Amount: | $2,553,000
|
| Maturity: | July 27, 2021
|
| Coupon: | 8.4% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline of ETF
|
| Call option: | At par monthly on any coupon date after three months
|
| Initial level: | $339.32
|
| Downside threshold: | $237.52; 70% of initial level
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Underwriter: | Goldman Sachs & Co. and UBS Financial Services Inc.
|
| Fees: | 1.1%
|
| Cusip: | 36259J761
|
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