By Marisa Wong
Morgantown, W.Va., Feb. 3 – GS Finance Corp. priced $296,000 of callable contingent coupon notes due Jan. 29, 2026 linked to the Russell 2000 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 7.25% annualized for each day that the index closes at or above the barrier level, 70% of the initial index level. Interest will be payable monthly.
If the index return is at least negative 50%, the payout at maturity will be par.
If the index return is less than negative 50%, investors will be fully exposed to the index decline
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
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| Amount: | $296,000
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| Maturity: | Jan. 29, 2026
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| Coupon: | 7.25% annualized for each day that the index closes at or above the barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index return is at least negative 50%; otherwise, full exposure to index decline
|
| Call option: | At par on any interest payment date beginning Jan. 29, 2017
|
| Initial level: | 1,002.747
|
| Barrier level: | 701.9229, 70% of initial level
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 4.65%
|
| Cusip: | 40054CAP9
|
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