By Susanna Moon
Chicago, May 29 – GS Finance Corp. priced $2.96 million of callable contingent coupon notes due May 22, 2023 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 semiannual coupon at an annual rate of 5.2% if each index closes at or above its 55% coupon barrier on the observation date for that period.
The notes are callable at par on any review date after six months.
The payout at maturity will be par unless either index closes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is 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 indexes: | S&P 500, Russell 2000
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| Amount: | $2.96 million
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| Maturity: | May 22, 2023
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| Coupon: | 5.2% annualized, payable semiannually if each index closes at or above 55% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 55% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any quarterly call review date from November 2018 through November 2022
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| Initial levels: | 2,712.97 for S&P, 1,626.629 for Russell
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| Trigger levels: | 55% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 25
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.8%
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| Cusip: | 40055Q2H4
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