Published on 8/1/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.93 million autocallable contingent coupon notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – GS Finance Corp. priced $2.93 million of autocallable contingent coupon notes due Feb. 4, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 6% if each index closes at or above its 70% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon, if any, unless either index falls more than 35% in which case investors will lose 1% for each 1% decline of the worse performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2,925,000
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| Maturity: | Feb. 4, 2019
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| Contingent coupon: | 6% per year, payable on a quarter if each component closes at or above coupon barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon, if any, unless either index falls more than 30%, in which case investors will lose 1% for each 1% decline of the worse performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date
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| Initial index levels: | 2,477.83 for S&P and 1,442.279 for Russell 2000
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| Coupon barrier levels: | 1,734.48 for S&P and 1,009.5953 for Russell 2000; 70% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July31
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 2.55%
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| Cusip: | 40054LJH8
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