By Angela McDaniels
Tacoma, Wash., June 5 – GS Finance Corp. priced $1 million of callable monthly range accrual notes due June 5, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate is 7.5% per year multiplied by the proportion of days on which each index closes at or above its barrier level, 70% of its initial level. Interest is payable monthly.
Beginning June 5, 2018, the notes will be callable at par on any interest payment date.
If the return of each index is greater than or equal to negative 30%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable monthly range accrual notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1 million
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| Maturity: | June 5, 2024
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| Coupon: | 7.5% per year multiplied by proportion of days on which each index closes at or above barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 30%, par; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call option: | At par on any interest payment date beginning June 5, 2018
|
| Initial index levels: | 1,370.208 for Russell 2000 and 2,411.80 for S&P 500
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| Barrier levels: | 959.1456 for Russell 2000 and 1,688.26 for S&P 500; 70% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.275%
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| Cusip: | 40054LDX9
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