By Susanna Moon
Chicago, Jan. 27 – GS Finance Corp. priced $775,000 of callable contingent interest notes due Jan. 27, 2022 linked to the lesser performing of 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 Libor plus 400 bps if each index closes at or above its coupon barrier, 65% of its initial level, on the review date for that quarter.
The notes will be callable at par plus the contingent coupon on any review date from January 2018 to October 2021.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses 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 interest notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $775,000
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| Maturity: | Jan. 27, 2022
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| Issue price: | Par
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| Coupon: | Libor plus 400 basis points, payable quarterly if each underlying index closes at or above 65% coupon barrier on review date for that quarter
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| Payout at maturity: | Par unless either index finishes below trigger level, 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 review date from January 2018 to October 2021
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| Initial levels: | 2,298.37 for S&P, 1,382.437 for Russell
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| Coupon barriers: | 65% of initial levels
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| Trigger levels: | 50% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 27
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 4.35%
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| Cusip: | 40054KUH7
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