By Susanna Moon
Chicago, Aug. 3 – GS Finance Corp. priced $3.11 million of callable monthly range accrual notes due July 31, 2032 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.5% annualized for each day that each index closes at or above 70% coupon barrier, payable monthly.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable monthly range accrual notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $3.11 million
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| Maturity: | July 31, 2032
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| Coupon: | 7.5% annualized for each day that each index closes at or above 70% coupon barrier, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 40%, in which case 1% loss per 1% drop of worse performing index
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| Call option: | At par plus interest on any interest payment date on or after July 31, 2018
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| Initial index level: | 1,442.279 for Russell and 2,477.83 for S&P
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| Coupon barrier: | 1,009.5953 for Russell and 1,734.481 for S&P; 70% of initial levels
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| Trigger levels: | 60% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.55%
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| Cusip: | 40054LLM4
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