By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – GS Finance Corp. priced $995,000 of callable contingent coupon notes due Jan. 29, 2031 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if each index closes at or above 65% of its initial level on the observation date for that quarter.
Beginning in January 2017, the notes will be callable on any contingent coupon payment date.
The payout at maturity will be par plus the contingent coupon if both indexes finish at or above 65% of their initial levels. If either index closes below 65% of its initial level but neither closes below 50% of its initial level, the payout will be par. Otherwise investors will be fully exposed to the loss of the lesser performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| 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 and Russell 2000
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| Amount: | $995,000
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| Maturity: | Jan. 29, 2031
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| Coupon: | Quarterly at 9% annual rate if each index closes at or above 65% of its initial level on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if both indexes finish at or above 65% of initial levels; par if either index falls below 65% of initial level, but neither falls below 50% of initial level; otherwise full exposure to loss of the lesser performing index
|
| Call option: | At par plus contingent coupon on any interest payment date after one year
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| Initial levels: | 1,002.747 for Russell, 1,882.95 for S&P
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 29
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 4.65%
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| Cusip: | 40054CBG8
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