By Devika Patel
Knoxville, Tenn., Nov. 22 – GS Finance Corp. priced $1.35 million of autocallable contingent coupon notes due Nov. 24, 2026 linked to the S&P 500 index and the February 2018 futures contract for West Texas Intermediate light sweet crude oil, 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 of 8.1% if each underlying closes at or above its 70% barrier level on the determination date for that quarter.
Beginning Nov. 17, 2017, the notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon, if any, unless either underlying finishes below 50% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing underlying.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlyings: | S&P 500 and February 2018 futures contract for West Texas Intermediate light sweet crude oil
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| Amount: | $1.35 million
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| Maturity: | Nov. 24, 2026
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| Contingent coupon: | Contingent quarterly coupon of 8.1% if each component closes at or above 70% barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus coupon if any unless return of either underlying is below negative 50%; in which case 1% loss for each 1% decline of worse-performing underlying
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| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial levels on any quarterly determination date from Nov. 17, 2017 onward
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| Initial index levels: | 2,187.12 for S&P 500 and $45.42 for WTI crude oil futures
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| Coupon barriers: | 1,530.984 for S&P 500 and $31.794 for WTI crude oil futures; 70% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 25
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 3.85%
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| Cusip: | 40054KMY9
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