By Angela McDaniels
Tacoma, Wash., Sept. 2 – GS Finance Corp. priced $7.46 million of contingent income callable securities due Sept. 6, 2018 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 12.9% if each index closes at or above its downside threshold level, 75% of its initial index level, on the determination date for that quarter.
The notes are callable at par on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Contingent income callable securities
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Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $7.46 million
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Maturity: | Sept. 6, 2018
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Coupon: | 12.9% per year, payable quarterly if each index closes at or above its downside threshold level on determination date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon; if final level of any index is less than downside threshold level, full exposure to decline of lowest-performing index
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Call option: | At par on any quarterly determination date other than final one
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Initial index levels: | 3,023.13 for Euro Stoxx 50, 1,239.907 for Russell 2000 and 2,170.95 for S&P 500
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Downside threshold: | 2,267.3475 for Euro Stoxx 50, 929.93025 for Russell 2000 and 1,628.2125 for S&P 500; 75% of initial index levels
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Underwriter: | Goldman Sachs & Co.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.175%
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Cusip: | 40054KHX7
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