By Susanna Moon
Chicago, Dec. 8 – GS Finance Corp. priced $268,000 of callable contingent coupon notes due May 30, 2020 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each underlying fund closes at or above its 65% coupon barrier on the review date for that quarter.
The notes are callable at par on any valuation date after six months.
The payout at maturity will be par unless either fund finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.
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 assets: | SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $268,000
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| Maturity: | May 30, 2020
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| Coupon: | 10% annualized, payable quarterly if each fund closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Call option: | At par on any interest payment date from May 2018 through February 2020
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| Payout at maturity: | Par unless either fund finishes below 65% trigger, in which case 1% loss for each 1% decline of worse performing fund
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| Initial index levels: | $81.22 for biotech fund and $34.42 for oil fund
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| Trigger levels: | 65% of initial levels
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.885%
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| Cusip: | 40055A2L0
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