Published on 10/3/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $175,000 contingent coupon autocallables tied to S&P 500, Russell
By Susanna Moon
Chicago, Oct. 3 – GS Finance Corp. priced $175,000 of autocallable contingent coupon notes due Oct. 3, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 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% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any interest payment date after six months.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC 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 assets: | Russell 2000 index, S&P 500 index
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| Amount: | $175,000
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| Maturity: | Oct. 3, 2019
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| Coupon: | 5% annualized payable quarterly if each index closes at or above 70% coupon barrier on review date that quarter
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| Price: | Par
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| Call: | At par if each index closes at or above its initial level on any interest payment date from March 2018 through June 2019
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| Payout at maturity: | Par unless either index finishes below 70% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Initial index levels: | 1,456.86 for Russell, 2,496.84 for S&P
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| Trigger levels: | 1,019.80 for Russell, 1,747.788 for S&P, 70% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.175%
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| Cusip: | 40054LRR7
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