By Wendy Van Sickle
Columbus, Ohio, July 25 – GS Finance Corp. priced $11.34 million of callable buffered contingent coupon notes due July 24, 2020 linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 7.2% if each underlier’s closing level is greater than or equal to 75% of its initial level on the observation date for that month.
From July 2018 to June 2020, GS Finance may call the notes on any coupon payment date.
The payout at maturity will be par unless either underlier’s return is less than negative 25%, in which case investors will lose 1.3333% for every 1% that the lesser-performing underlier declines beyond 25%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable buffered contingent coupon notes
|
| Underlying assets: | Euro Stoxx 50 index and iShares MSCI Emerging Markets exchange-traded fund
|
| Amount: | $11,341,000
|
| Maturity: | July 24, 2020
|
| Coupon: | 7.2%, payable monthly if each underlier’s closing level is greater than or equal to 75% of its initial level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlying falls by more than 25%, in which case investors will lose 1.3333% for every 1% that the lesser-performing underlier declines beyond 25%
|
| Call option: | At par plus on any coupon payment date from July 2018 to June 2020
|
| Initial levels: | 3,451.71 for index, $43.63 for ETF
|
| Pricing date: | July 21
|
| Settlement date: | July 28
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.275%
|
| Cusip: | 40054LLH5
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