By Wendy Van Sickle
Columbus, Ohio, May 18 – GS Finance Corp. priced $10 million of callable monthly range accrual notes due May 19, 2031 linked to six-month Libor 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 interest rate will be the applicable rate multiplied by the proportion of days on which the index closes at or above the barrier level, 75% of the initial index level, and six-month Libor is 6% or less. The applicable rate will be 6% per year for the first 40 quarters and 8% per year for the final 20 quarters. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning May 19, 2017, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Gurantor: | Goldman Sachs Group Inc.
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| Issue: | Callable quarterly range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $10 million
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| Maturity: | May 19, 2031
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| Coupon: | Applicable rate of 6% a year for first 40 quarters and 8% for final 20 quarters multiplied by proportion of days index closes at or above barrier level, and six-month Libor is 6% or less; payable quarterly
|
| Price: | Par of $10
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| Call: | At par on any interest payment date after one year
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| Payout at maturity: | Par
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| Initial index level: | 1,116.212
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| Barrier level: | 837.159, 75% of initial level
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Agents: | Goldman Sachs & Co.
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| Fees: | 3.55%
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| Cusip: | 40054KCL8
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