By Wendy Van Sickle
Columbus, Ohio, July 26 – GS Finance Corp. priced $500,000 of callable contingent coupon notes due July 28, 2020 linked to the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production 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 8.2% if each underlier closes at or above its barrier level, 60% of its initial level, on the obsevation day during that quarter.
Beginning in July 2018, the notes are callable at par on any coupon payment date.
If the final level of each underlier is greater than or equal to 60% 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
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| Underliers: | Russell 2000 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $500,000
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| Maturity: | July 28, 2020
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| Coupon: | 8.2%, 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 60% of initial level, par; otherwise, full exposure to decline of least-performing underlier
|
| Call option: | Beginning in July 2018, at par on any coupon payment date
|
| Initial levels: | 1,435.839 for Russell and $31.65 for ETF
|
| Barrier levels: | 60% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 28
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.95%
|
| Cusip: | 40054LLD4
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