Published on 11/7/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.58 million contingent coupon notes linked to indexes, EAFE ETF
By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – GS Finance Corp. priced $3.58 million of callable contingent coupon notes due Nov. 4, 2024 linked to the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, 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 8% if each underlier closes at or above its barrier level, 70% of its initial level, on the observation date during that quarter.
The notes are callable at par on any coupon payment date.
If the final level of each underlier is greater than or equal 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing underlier.
Goldman Sachs & Co. is the underwriter.
| 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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| Underliers: | Russell 2000 index, Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $3,581,000
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| Maturity: | Nov. 4, 2024
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| Coupon: | 8%, payable quarterly if each underlier closes at or above barrier level on observation date that quarter
|
| Price: | Par
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| Payout at maturity: | If final level of each underlier is greater than or equal 70% of initial level, par; otherwise, full exposure to decline of least-performing underlier
|
| Call option: | At par on any coupon payment date
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| Initial levels: | 1,497.459 for Russell 2000, 3,637.20 for Stoxx and $69.02 for ETF
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.3%
|
| Cusip: | 40054LXX7
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