By Wendy Van Sickle
Columbus, Ohio, July 21 – GS Finance Corp. priced $1 million of autocallable contingent coupon notes due Oct. 25, 2018 linked to the S&P 500 index, the Russell 2000 index and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each month, the notes will pay a contingent coupon at the rate of 9.5% per year if each underlier closes at or above its trigger level, 70% of its initial level, on the observation date for that month.
Beginning in January 2018, the notes will be automatically called at par if each underlier closes at or above its initial level on any coupon determination date.
A trigger event will occur if any underlier closes below its trigger level on any day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the final return of one or more underliers is negative, in which case investors will be fully exposed to the decline of the least-performing underlier from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, SPDR Euro Stoxx 50 ETF
|
| Amount: | $1,004,000
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| Maturity: | Oct. 25, 2018
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| Coupon: | 9.5%, payable quarterly if each underlier closes at or above trigger level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless any underlier finishes below initial level and closes below trigger level any day during observation period, in which case full exposure to loss of least performing underlier
|
| Call: | At par on any coupon payment date if each underlier closes above initial level on a determination date after six months
|
| Initial levels: | 1,441.771 for Russell 2000 and 2,473.83 for S&P 500, $39.34 for ETF
|
| Trigger levels: | 70% of initial levels
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| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.35%
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| Cusip: | 40054LKX1
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