By Susanna Moon
Chicago, Dec. 7 – GS Finance Corp. priced $3.82 million of callable contingent coupon notes due Nov. 30, 2020 linked to the S&P 500 index 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 notes will pay a contingent quarterly coupon at an annual rate of 6.15% if each index closes at or above its 60% barrier level on the determination date for that quarter.
The notes are callable at par plus the contingent coupon on any quarterly review date from November 2017 to August 2020.
The payout at maturity will be par plus the final coupon unless either index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index.
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 contingent coupon notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $3,818,000
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| Maturity: | Nov. 30, 2020
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| Contingent coupon: | 6.15% annualized, payable quarterly if each index closes at or above 60% barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 40%, in which case full exposure to any losses of worse performing index
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| Call option: | At par plus contingent coupon on any quarterly determination date from November 2017 to August 2020
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| Initial levels: | 2,201.72 for S&P and 1,329.828 for Russell
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| Barrier levels: | 60% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
|
| Agent: | Goldman, Sachs & Co.
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| Fees: | 3.8%
|
| Cusip: | 40054KP59
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