By Susanna Moon
Chicago, Aug. 2 – GS Finance Corp. priced $792,000 of callable contingent coupon notes due July 31, 2019 linked to the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 10.5% if each fund closes at or above its 65% barrier level on the observation date for that month.
The notes are callable at par on any coupon payment date from January 2018 to April 2019.
The payout at maturity will be par plus the final coupon unless either fund finishes below its 65% barrier level, in which case investors will be fully exposed to the decline of the worse performing fund.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying funds: | SPDR S&P Biotech ETF, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $792,000
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| Maturity: | July 31, 2019
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| Coupon: | 10.5%, payable monthly if each fund closes at or above 65% barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either fund finishes below 65% barrier level, in which case full exposure to losses of worse performing fund
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| Call option: | At par on any coupon payment date from January 2018 to April 2019
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| Initial levels: | $80.79 for biotech fund, $32.58 for oil fund
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| Barrier levels: | 65% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 2.925%
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| Cusip: | 40054LKP8
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