By Susanna Moon
Chicago, Jan. 3 – GS Finance Corp. priced $1.54 million of callable contingent coupon notes due Dec. 27, 2022 linked to the lesser 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 5.5% if each index closes at or above its 65% coupon barrier on the review date for that quarter.
The notes are callable at par on any quarterly valuation date after one year.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Russell 2000 index, S&P 500 index
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| Amount: | $1,536,000
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| Maturity: | Dec. 27, 2022
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| Coupon: | 5.5% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Call option: | At par on any quarterly valuation date beginning in December 2018
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| Payout at maturity: | Par unless either index finishes below 65% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Initial index levels: | 1,547.107 for Russell, 2,684.57 for S&P
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| Trigger levels: | 65% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.975%
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| Cusip: | 40055AAA5
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