By Wendy Van Sickle
Columbus, Ohio, May 3 – GS Finance Corp. priced $292,000 of callable contingent coupon notes due April 28, 2019 linked to the worst performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 10.5% per year if each asset closes at or above its barrier level, 65% of its initial level, on the observation date for that period.
The notes are callable at par of $1,000 on any contingent coupon payment date beginning in October 2017 and ending in January 2019.
The payout at maturity will be par plus the final coupon payment unless either asset finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least-performing asset.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | SPDR S&P Biotech ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Amount: | $292,000
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| Maturity: | April 28, 2019
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| Coupon: | 10.5% per year, payable quarterly if each asset closes at or above 65% of initial levels on determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either asset declines by more than 35%, in which case full exposure to losses of least-performing asset
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| Call option: | At par on any interest payment date from October 2017 through January 2019
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| Initial levels: | $70.58 for Biotech, $36.09 for Oil & Gas
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 2.575%
|
| Cusip: | 40054L5X8
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