By Susanna Moon
Chicago, Aug. 31 – GS Finance Corp. priced $5.04 million of callable contingent coupon notes due Aug. 31, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 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 55% coupon barrier on review date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless either index finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. LLC is the agent.
| 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 assets: | S&P 500 index and Russell 2000 index
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| Amount: | $5,035,000
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| Maturity: | Aug. 31, 2022
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| Coupon: | 5% annualized, payable quarterly if each index closes at or above 55% coupon barrier on review date that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index finishes below 55% trigger, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par plus any coupon on any contingent coupon payment date beginning in August 2018
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| Initial levels: | 2,444.24 for S&P and 1,382.229 for Russell
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| Trigger levels: | 55% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.28%
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| Cusip: | 40054LN91
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