By Tali Rackner
Minneapolis, April 6 – GS Finance Corp. priced $130,000 of callable contingent coupon notes due March 31, 2022 linked to the least performing of the Russell 2000 index and the S&P 500 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 6.2% if both indexes close at or above 50% of their respective initial levels on the review date for that quarter. Otherwise, no coupon will be paid for that quarter.
Beginning in September 2017 and ending in December 2021, the notes are callable in whole but not in part at par plus the contingent coupon on any coupon payment date.
The payout at maturity will be par plus the final coupon unless either index finishes below 50% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| 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: | Russell 2000 and S&P 500
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| Amount: | $130,000
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| Maturity: | March 31, 2022
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| Coupon: | 6.2%, payable quarterly if each index closes at or above 50% of initial level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either index declines by more than 50%, in which case full exposure to decline of lesser-performing index
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| Call option: | At par on any interest payment date between September 2017 and December 2021
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| Initial levels: | 1,367.261 for Russell, 2,358.57 for S&P
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 1.35%
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| Cusip: | 40054KY59
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