By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – GS Finance Corp. priced $3.26 million of callable range accrual notes due Aug. 31, 2032 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at a rate of 8% per year for each day that both indexes close at or above 75% of their respective initial index levels. Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Aug. 31, 2018.
The payout at maturity will be par if the least-performing index finishes at or above 50% of its initial level.
Otherwise, investors lose 1% for each 1% decline of the least-performing index.
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: | $3,262,000
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| Maturity: | Aug. 31, 2032
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| Coupon: | 8% annualized for each day that each index closes at or above 75% 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 50%, 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 Aug. 31, 2018
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| Initial index level: | 1,383.681 for Russell and 2,446.30 for S&P
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| Coupon barrier: | 1,037.76075 for Russell and 1,834.725 for S&P; 75% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co.
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| Fees: | 5.02%
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| Cusip: | 40054LNJ9
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