By Angela McDaniels
Tacoma, Wash., July 29 – GS Finance Corp. priced $6.35 million of callable contingent coupon notes due July 29, 2020 linked to the S&P 500 index and the Russell 2000 index, 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 6.75% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
Beginning July 29, 2017, the notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless the return of either index is less than negative 40%, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $6,353,000
|
| Maturity: | July 29, 2020
|
| Coupon: | 6.75%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless return of either index is less than negative 40%, in which case full exposure to decline of worse-performing index
|
| Call: | Beginning July 29, 2017, at par on any coupon payment date
|
| Initial levels: | 1,218.927 for Russell 2000 and 2,166.58 for S&P 500
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | July 27
|
| Settlement date: | July 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.5%
|
| Cusip: | 40054KF68
|
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