By Susanna Moon
Chicago, June 6 – GS Finance Corp. priced $6.53 million of callable contingent coupon notes due May 31, 2022 linked to the lesser 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 will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes are callable at par on any coupon determination date after one year.
The payout at maturity will be par plus the contingent coupon 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.
The notes are guaranteed by Goldman Sachs Group, Inc.
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, S&P 500
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| Amount: | $6.53 million
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| Maturity: | May 31, 2022
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| Coupon: | 5% per year, payable quarterly if each index closes at or above 50% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below 50% trigger, in which case full exposure to losses of worse performing index
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| Call option: | At par on any interest payment date from May 2018 through February 2022
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| Initial levels: | 2,415.07 for S&P, 1,383.388 for Russell
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| Trigger levels: | 50% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.7%
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| Cusip: | 40054LBR4
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