By Wendy Van Sickle
Columbus, Ohio, April 21 – GS Finance Corp. priced $1 million of callable contingent coupon notes due Oct. 24, 2019 linked to the worst performing of the iShares MSCI EAFE ETF 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.
Each quarter, the notes pay a contingent coupon at the rate of 7.75% per year if each asset closes at or above its barrier level, 80% of its initial level, on the observation date for that period.
The notes are callable at par of $1,000 on any contingent coupon payment date beginning in October 2017 and ending in July 2019.
The payout at maturity will be par plus the final coupon payment unless any asset finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least-performing asset.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000, S&P 500, iShares MSCI EAFE ETF
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| Guarantor: | Goldman Sachs Group, Inc.
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| Amount: | $1 million
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| Maturity: | Oct. 24, 2019
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| Coupon: | 7.75% per year, payable quarterly if each asset closes at or above 80% of initial levels on determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any asset declines by more than 35%, in which case full exposure to losses of least-performing asset
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| Call option: | At par on any interest payment date from October 2017 through July 2019
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| Initial levels: | 1,367.133 for Russell 2000, 2,338.17 for S&P 500, $61.44 for ETF
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 2.425%
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| Cusip: | 40054L6V1
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