By Wendy Van Sickle
Columbus, Ohio, March 31 – GS Finance Corp. priced $11.41 million of callable contingent coupon notes due March 31, 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.
The notes will pay a quarterly coupon at an annual rate of 7.7% if each index closes above the 60% coupon barrier level on the observation date for that quarter.
The notes will be callable at par plus any coupon due on any payment date after one year.
The payout at maturity will be par unless either index finishes below the 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
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 contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $11.41 million
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| Maturity: | March 31, 2020
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.7% per year if each index’s closing level is greater than or equal to 60% of initial level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If return of each index is greater than or equal to negative 40%, par plus contingent coupon; if return of either index is less than negative 40%, full exposure to decline of lesser-performing index
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| Call: | Beginning March 31, 2017, notes will be callable at par plus contingent coupon on any interest payment date
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| Initial level: | 2,055.01 for S&P 500 and 1,109.082 for Russell 2000
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 3.3%
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| Cusip: | 40054K5G7
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