By Wendy Van Sickle
Columbus, Ohio, Jan. 3 – GS Finance Corp. priced $641,000 of autocallable contingent coupon notes due July 6, 2018 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 are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 5.75% per year if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
Beginning in June 2017, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon unless either index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $641,000
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Maturity: | July 6, 2018
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Contingent coupon: | Contingent quarterly coupon of 5.75% per year if each index closes at or above 70% coupon trigger level on the determination date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each index finishes above 70% barrier level; otherwise 1% loss for each 1% decline of lesser-performing index
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date after six months
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Initial index levels: | 2,249.92 for S&P 500 and 1,360.825 for Russell 2000
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Coupon trigger/barrier levels: | 1,574.944 for S&P 500 and 952.5775 for Russell 2000; 70% of initial levels
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Pricing date: | Dec. 28
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Settlement date: | Dec. 30
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Agent: | Goldman Sachs & Co.
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Fees: | 2.15%
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Cusip: | 40054KRD0
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