By Devika Patel
Knoxville, Tenn., April 10 – GS Finance Corp. priced $4.06 million of autocallable contingent coupon notes due April 5, 2027 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.
The notes will pay a contingent quarterly coupon at the rate of 5.5% per year if each index closes at or above its 50% barrier level on the determination date for that quarter.
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 beginning in March 2018 and ending in December 2026.
The payout at maturity will be par plus the final coupon unless either index finishes below its 50% barrier 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $4.06 million
|
| Maturity: | April 5, 2027
|
| Contingent coupon: | Contingent quarterly coupon of 5.5% per year if each component closes at or above 50% barrier level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than negative 50%, par plus contingent coupon; otherwise 1% loss for each 1% decline of worse-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date beginning in March 2018 and ending in December 2026
|
| Initial index levels: | 2,361.13 for S&P 500 and 1,371.645 for Russell 2000
|
| Barrier levels: | 1,180.565 for S&P 500 and 685.8225 for Russell 2000; 50% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 40054KY75
|
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