By Devika Patel
Knoxville, Tenn., April 27 – GS Finance Corp. priced $3.64 million of callable contingent coupon notes due April 28, 2022 linked to the worse 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.
Each quarter, the notes pay a contingent coupon at the rate of 5.25% per year if each index closes at or above 50% of its initial level on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date beginning on April 28, 2018 and ending on Jan. 28, 2022.
The payout at maturity will be par plus the final coupon payment unless any 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,644,000
|
| Maturity: | April 28, 2022
|
| Coupon: | 5.25% per year, payable quarterly if each index closes at or above 50% of initial levels on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index declines by more than 50%, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call option: | At par on any interest payment date from April 28, 2018 until Jan. 28, 2022
|
| Initial levels: | 1,411.077 for Russell 2000 and 2,388.61 for S&P 500
|
| Pricing date: | April 25
|
| Settlement date: | April 28
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.6%
|
| Cusip: | 40054L4Y7
|
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