By Wendy Van Sickle
Columbus, Ohio, April 4 – GS Finance Corp. priced $3.31 million callable contingent coupon notes due March 31, 2018 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 8.5% if each index closes above the 70% 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.
The payout at maturity will be par unless either index finishes below the 70% 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 monthly range accrual notes
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| Underlying index: | S&P 500 and Russell 2000
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| Amount: | $3,306,000
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| Maturity: | March 31, 2026
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| Coupon: | 8.5% per year if each index closes at or above barrier level; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any coupon payment date
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| Initial index level: | 2,055.01 for S&P, 1,109.082 for Russell
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| Barrier level: | 70% of initial levels
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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: | 2.455%
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| Cusip: | 40054K5F9
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