New Issue: Goldman sells $22.88 million trigger phoenix callable notes on S&P, Stoxx

New York, Aug. 31 – Goldman Sachs Group, Inc. priced $22.88 million of trigger phoenix autocallable optimization securities due Aug. 29, 2025 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its barrier level, 70% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon at an annual rate of 8.8% for that quarter. Otherwise, no coupon will be paid that quarter.

The notes will be called at par plus the contingent coupon if both indexes are above their initial level on any quarterly determination date beginning in August 2016.

If the notes are not called, the payout will be par plus the contingent coupon unless either index falls by more than 30%. If either index falls by more than 30% but both fall by 50% or less then the payout at maturity will be par. If either index loses more than 50% investors will be exposed to the decline of the worst-performing index from its initial level.

Goldman, Sachs & Co. is the agent.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Trigger phoenix autocallable optimization securities
Underlying indexes:	S&P 500, Euro Stoxx 50
Amount:	$22,881,100
Maturity:	Aug. 29, 2025
Coupon:	8.8% per year payable quarterly if each index closes at or above 70% barrier level on observation date for that quarter
Price:	Par of $10
Payout at maturity:	Par plus contingent coupon if each index finishes at or above 70% barrier level; par if either index finishes below 70% barrier level but both finish at or above 50% trigger level; full exposure to decline of worst-performing index if either finishes below 50% trigger level
Call option:	Automatically at par plus contingent coupon, if any, on any coupon payment date starting August 2016
Initial index levels:	1,987.66 for S&P 500, 3,280.78 for Stoxx 50
Trigger levels:	993.83 for S&P 500, 1,640.39 for Stoxx 50, 50% of initial levels
Barrier levels:	1,391.36 for S&P 500, 2,296.55 for Stoxx 50, 70% of initial levels
Pricing date:	Aug. 27
Settlement date:	Aug. 31
Agent:	Goldman, Sachs & Co.
Fees:	3.9%
Cusip:	38148X217

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