By Marisa Wong
Morgantown, W.Va., Dec. 8 – GS Finance Corp. priced $2.56 million of callable contingent coupon notes due Nov. 26, 2021 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.35% if each index closes at or above its trigger level, 50% of its initial level, on the determination date for that quarter.
The notes are callable at par on any coupon payment date beginning in November 2017.
The payout at maturity will be par unless either index finishes below its trigger level, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $2,556,000
|
| Maturity: | Nov. 26, 2021
|
| Coupon: | 7.35%, payable quarterly if each index closes at or above coupon trigger level on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to decline of worse-performing index
|
| Call option: | At par on any coupon payment date beginning in November 2017
|
| Initial index levels: | 2,202.94 for S&P and 1,334.341 for Russell
|
| Trigger levels: | 50% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.6%
|
| Cusip: | 40054KNQ5
|
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