By Devika Patel
Knoxville, Tenn., Nov. 2 – GS Finance Corp. priced $4.34 million of callable contingent coupon notes due Oct. 31, 2020 linked to the worse performing of 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 the rate of 5.85% per year if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par of $1,000 on any contingent coupon payment date from October 2017 through July 2020.
The payout at maturity will be par plus the final coupon payment unless any index finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Amount: | $4,735,000
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| Maturity: | Oct. 31, 2020
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| Coupon: | 5.85% per year, payable on a quarter if each index closes at or above 60% of initial levels on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index declines by more than 40%, in which case 1% loss for each 1% decline of lesser-performing index
|
| Call option: | At par on any interest payment date from October 2017 through July 2020
|
| Initial levels: | 1,189.947 for Russell 2000 and 2,133.04 for S&P 500
|
| Pricing date: | Oct. 27
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| Settlement date: | Oct. 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.8%
|
| Cusip: | 40054KLY0
|
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