By Angela McDaniels
Tacoma, Wash., July 17 – GS Finance Corp. priced $1.02 million of 0% notes due Jan. 16, 2020 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.
If each index’s return is positive, the payout at maturity will be par plus two times the return of the lesser-performing index, subject to a maximum settlement amount of $1,214 per $1,000 principal amount of notes.
If the return of either index is less than zero but the return of each index is greater than or equal to negative 30%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the return of either index is less than negative 30%, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,015,000
|
| Maturity: | Jan. 16, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index’s return is positive, par plus two times return of lesser-performing index, subject to maximum return of 21.4%; if return of either index is less than zero but return of each index is greater than or equal to negative 30%, par plus absolute value of lesser-performing index’s return; if return of either index is less than negative 30%, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Initial index levels: | 2,447.83 for S&P 500 and 1,425.661 for Russell 2000
|
| Pricing date: | July 13
|
| Settlement date: | July 18
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.925%
|
| Cusip: | 40054LL44
|
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