By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – GS Finance Corp. priced $870,000 of callable range accrual notes due April 30, 2025 tied to the Russell 2000 index and the Euro Stoxx 50 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 6.5% per year for each day that both indexes close at or above 80% of their respective initial index levels. Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Oct. 30, 2018.
The payout at maturity will be par if the least-performing index finishes at or above 80% of its initial level.
Otherwise, investors lose 1% for each 1% decline of the least-performing index beyond 20%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable monthly range accrual notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $870,000
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| Maturity: | April 30, 2025
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| Coupon: | 6.5% annualized for each day that each index closes at or above 80% coupon barrier, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 20%, in which case 1% loss per 1% drop of worse performing index beyond 20%
|
| Call option: | At par plus interest on any interest payment date on or after Oct. 30, 2018
|
| Initial index level: | 1,508.316 for Russell and 3,652.23 for Stoxx
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| Coupon barrier: | 1,206.6528 for Russell and 2,921.784 for Stoxx; 80% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.9%
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| Cusip: | 40054LY65
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