By Marisa Wong
Morgantown, W.Va., June 3 – GS Finance Corp. priced $1.07 million of callable buffered monthly range accrual notes due May 31, 2021 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.
The interest rate is 5% per year multiplied by the proportion of days on which the index closes at or above the barrier level, 80% of the initial index level. Interest is payable monthly.
If the index return is at least negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
Beginning May 31, 2017, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1,074,000
|
| Maturity: | May 31, 2021
|
| Coupon: | 5% per year multiplied by proportion of days on which index closes at or above barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% that index declines beyond 20%
|
| Call option: | At par on any interest payment date beginning May 31, 2017
|
| Initial level: | 1,139.754
|
| Barrier level: | 911.8032, 80% of initial level
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.85%
|
| Cusip: | 40054KB96
|
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