By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – GS Finance Corp. priced $3.38 million of callable contingent coupon notes due Aug. 25, 2020 linked to the S&P 500 index and the Russell 2000 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 an annual rate of 7.15% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par on any coupon payment date from February 2018 to February 2020.
The payout at maturity will be par plus the final coupon, if any, unless either index closes below 70% of its initial level, in which case investors will be fully exposed to the loss of the lesser-performing index.
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: | $3,378,000
|
| Maturity: | Aug. 25, 2020
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| Coupon: | 7.15%, payable quarterly if each index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless either index finishes below 70% of initial level, in which case full exposure to loss of lesser performing index
|
| Call option: | At par on any coupon payment date from February 2018 to February 2020
|
| Initial levels: | 1,357.793 for Russell 2000 and 2,425.55 for S&P 500
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 40054LMV3
|
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