By Marisa Wong
Morgantown, W.Va., Dec. 19 – GS Finance Corp. priced $1.2 million of autocallable contingent coupon notes due Dec. 14, 2021 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.
Every six months, the notes pay a contingent coupon at the rate of 9.15% per year if the index’s closing level is greater than or equal to 70% of the initial level on the determination date for that semiannual period.
Beginning in June 2017, the notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any determination date.
If the notes have not been called and the index return is greater than or equal to negative 25%, the payout maturity will be par plus the contingent coupon. If the index return is less than negative 25% but greater than or equal to negative 30%, the payout will be par plus the index return plus the contingent coupon. If the index return is less than negative 30%, investors will be exposed to the index’s decline from its initial level and will not receive the coupon.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying index: | Russell 2000
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| Amount: | $1.2 million
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| Maturity: | Dec. 14, 2021
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| Coupon: | 9.15% per year, payable semiannually if index closes at or above trigger level on determination date for that semiannual period
|
| Price: | Par
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| Payout at maturity: | If index return is greater than or equal to negative 25%, par plus contingent coupon; if index return is less than negative 25%, exposure to index’s decline from initial level plus, if return is not less than negative 30%, the contingent coupon
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any determination date
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| Initial index level: | 1,388.073
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| Trigger level: | 971.6511, 70% of initial level
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 14
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 0.35%
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| Cusip: | 40054KRN8
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