By Wendy Van Sickle
Columbus, Ohio, July 29 – GS Finance Corp. priced $1.25 million of callable buffered monthly range accrual notes due Jan. 29, 2024 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 an annualized rate of 5% for each day that the index closes at or above the barrier level, 70% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 30%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date beginning July 29, 2017.
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 buffered monthly range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $1.25 million
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| Maturity: | Jan. 29, 2024
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| Coupon: | 5% per year multiplied by proportion of days on which index closes at or above barrier level; payable monthly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par, unless index falls by more than 30%, with exposure to losses beyond 30%
|
| Call option: | At par on any interest payment date beginning July 29, 2017
|
| Initial level: | 1,218.927
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| Barrier level: | 853.2489, 70% of initial level
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| Pricing date: | July 27
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| Settlement date: | July 29
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.65%
|
| Cusip: | 40054KGG5
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