By Wendy Van Sickle
Columbus, Ohio, March 31 – GS Finance Corp. priced $815,000 of callable buffered monthly Russell 2000 index-linked range accrual notes due March 31, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at 8.25% annualized for each day that the index closes at or above the coupon barrier level, 70% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than the 50% trigger level, in which case investors will be fully exposed to the loss.
The notes will be callable at par on any interest payment date after March 31, 2017.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable monthly range accrual notes
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Underlying index: | Russell 2000
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Amount: | $815,000
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Maturity: | March 31, 2026
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Coupon: | 8.25% per year multiplied by proportion of days on which index closes at or above barrier level; payable monthly
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 50%, par; otherwise, full exposure to loss
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Call option: | At par on any interest payment date beginning March 31, 2017
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Initial index level: | 1,109.082
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Barrier level: | 776.3574, 70% of initial level
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Trigger level: | 50% of initial level
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Pricing date: | March 29
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Settlement date: | March 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.65%
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Cusip: | 40054K4M5
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