By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – GS Finance Corp. priced $2.18 million of autocallable contingent coupon notes due Nov. 1, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.75% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning in January 2017, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless the return of either index is negative and either index has closed below its trigger level any day during the life of the notes, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $2,175,000
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| Maturity: | Nov. 1, 2021
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| Coupon: | 6.75%, payable quarterly if each index closes at or above coupon trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and either index has closed below trigger level any day during life of notes, in which case full exposure to decline of worse-performing index
|
| Call: | Beginning in January 2017, automatically at par if both indexes close at or above initial levels on any coupon determination date
|
| Initial levels: | 1,189.947 for Russell 2000 and 2,133.04 for S&P 500
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| Trigger levels: | 70% of initial levels
|
| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.975%
|
| Cusip: | 40054KM94
|
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