By Wendy Van Sickle
Columbus. Ohio, May 4 – GS Finance Corp. priced $1.43 million of callable buffered monthly range accrual notes due Nov. 3, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest accrues at an annual rate of 6.5% for each day that the index closes at or above the coupon barrier, 75% of the initial index level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 25%, in which case investors will lose 1% for each 1% decline beyond 25%.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1,425,000
|
| Maturity: | Nov. 3, 2024
|
| Coupon: | 6.5% annualized for each day that index closes at or above 75% coupon barrier, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 25%, in which case 1% loss for each 1% decline beyond 25%
|
| Call option: | At par on any interest payment date beginning May 3, 2018
|
| Initial level: | 1,400.428
|
| Coupon barrier: | 1,050.321, 75% of initial levels
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.65%
|
| Cusip: | 40054LA20
|
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