By Susanna Moon
Chicago, July 12 – GS Finance Corp. priced $6.48 million of callable contingent coupon notes due June 30, 2027 linked to the least 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 will pay a contingent quarterly coupon at an annual rate if each index closes at or above its 70% coupon barrier on the review date for that quarter. The contingent coupon will be 7% for the first 20 payment dates, stepping up to 10% for the next 12 dates and to 12% for the final eight dates.
The notes are callable at par plus the contingent coupon on any review date after one year.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC 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: | Russell 2000 and S&P 500
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| Amount: | $6,484,000
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| Maturity: | June 30, 2027
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| Coupon: | 7% for first 20 payment dates, 10% for next 12 dates and 12% for final eight dates, payable quarterly if each index closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index falls below 50% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Call option: | At par plus coupon on any review date beginning in June 2018
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| Initial levels: | 1,425.269 for Russell 2000 and 2,440.69 for S&P 500
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| Coupon barriers: | 70% of initial levels
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| Trigger levels: | 50% of initial levels
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.75%
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| Cusip: | 40054LEC4
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