By Susanna Moon
Chicago, Nov. 2 – GS Finance Corp. priced $5.4 million of callable buffered monthly range accrual notes due April 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annual rate of 6% for each day that the index closes at or above the coupon barrier, 80% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable buffered monthly range accrual notes
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| Underlying index: | S&P 500
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| Amount: | $5.4 million
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| Maturity: | April 30, 2024
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| Coupon: | 6% annualized for each day that index closes at or above 80% coupon barrier, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 20%, in which case exposure to any losses beyond 20%
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| Call option: | At par on any interest payment date beginning Oct. 31, 2017
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| Initial level: | 2,133.04
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 5.1%
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| Cusip: | 40054KM78
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