By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – GS Finance Corp. priced $4.73 million of autocallable contingent coupon notes due Jan. 5, 2027 linked to the Euro Stoxx 50 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 8.5% if each index closes at or above its trigger level, 70% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date after one year.
The payout at maturity will be par plus the coupon, if any, unless the final level of either index is less than 50% of its initial 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: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $4,728,000
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| Maturity: | Jan. 5, 2027
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| Coupon: | 8.5%, payable quarterly if each index closes at or above trigger level on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon, if any, unless either index falls by more than 50%, in which case full exposure to decline of worse-performing index
|
| Call: | Automatically at par if both indexes close at or above initial levels on any coupon determination date beginning in December 2017
|
| Initial index levels: | 3,278.72 for Stoxx and 1,360.825 for Russell
|
| Trigger levels: | 2,295.104 for Stoxx and 952.5775 for Russell; 70% of initial levels
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| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.95%
|
| Cusip: | 40054KRC2
|
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