By Wendy Van Sickle
Columbus, Ohio, May 4 – GS Finance Corp. priced $3.23 million of autocallable contingent coupon notes due Oct. 31 2018 linked to the worse performing of the Russell 2000 index and the S&P 500 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 pay a contingent coupon at the rate of 5.85% per year if each index closes at or above 75% of its initial level on the observation date for that quarter.
The notes will be called at par if each index closes above its initial level on any contingent coupon payment date from July 2017 to July 2018.
The payout at maturity will be par plus the final coupon payment unless either index finishes below initial level and either closes below 75% of its initial level any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autoallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,231,000
|
| Maturity: | Oct. 31, 2018
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| Coupon: | 5.85% per year, payable quarterly if each index closes at or above 75% of initial level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless either index finishes below initial level and has closed below 75% of initial level any day during life of notes, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | At par if each index closes above initial level on any interest payment date from July 2017 to July 2018
|
| Initial levels: | 1,400.428 for Russell 2000 and 2,384.20 for S&P 500
|
| Pricing date: | April 28
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| Settlement date: | May 4
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 1.85%
|
| Cusip: | 40054LAK0
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