By Susanna Moon
Chicago, Jan. 25 – GS Finance Corp. priced $1.88 million of callable contingent coupon notes due Jan. 27, 2021 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 semiannual coupon at an annual rate of 6.85% if each index closes at or above its 60% coupon trigger on the determination date for that period.
The notes will be callable at par after six months.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse 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: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,877,000
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| Maturity: | Jan. 27, 2021
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| Contingent coupon: | 6.85% annualized, payable semiannually for each period that each index closes at or above 60% coupon trigger level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each index finishes above 60% trigger level; otherwise 1% loss for each 1% decline of worse performing index
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| Call option: | At par plus contingent coupon from July 27, 2017 to July 27, 2020
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| Initial levels: | 2,271.31 for S&P 500 and 1,351.848 for Russell 2000
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 27
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| Agent: | Goldman Sachs & Co.
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| Fees: | 2.45%
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| Cusip: | 40054KUA2
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