By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – GS Finance Corp. priced $1.1 million of autocallable contingent coupon notes due March 7, 2019 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.5% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that period.
The notes will be called at par on any coupon payment date if each index closes above its initial level after six months.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below its initial level and either index closes below 70% of its initial level any day during the life of the notes, in which case investors will be fully exposed to the loss of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1,103,000
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| Maturity: | March 7, 2019
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| Coupon: | 5.5%, payable quarterly if each index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either index finishes below 70% of initial level any day during life of notes and either index closes below initial level, in which case full exposure to loss of lesser performing index
|
| Call: | At par on any coupon payment date after six months if each index closes above initial level
|
| Initial levels: | 1,382.229 for Russell 2000 and 2,444.24 for S&P 500
|
| Barrier levels: | 967.5603 for Russell 2000 and 1,710.968 for S&P 500; 70% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.56%
|
| Cusip: | 40054LNU4
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