Published on 5/31/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.18 million contingent coupon autocallables tied to S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, May 31 – GS Finance Corp. priced $4.18 million of autocallable contingent coupon notes due June 2, 2027 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 will pay a contingent quarterly coupon at an annual rate of 5.3% if each index closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any coupon determination dates.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the lesser-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
|
| Underlying index: | S&P 500 index and Russell 2000 index
|
| Amount: | $4,177,000
|
| Maturity: | June 2, 2027
|
| Coupon: | 5.3% per year, payable quarterly if each index closes at or above 60% coupon barrier on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below 60% trigger, in which case full exposure to losses
|
| Call: | At par if index closes at or above its initial level on any coupon determination dates occurring in May of each year, beginning in May 2018 and ending in May 2026
|
| Initial level: | 1,383.388 for Russell, 2,415.07 for S&P
|
| Coupon barriers/triggers: | 830.0328 for Russell, 1,449.042 for S&P, 60% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 40054LC51
|
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