Published on 11/3/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.65 million contingent coupon autocallables on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – GS Finance Corp. priced $4.65 million of autocallable contingent coupon notes due Nov. 3, 2027 linked to the lesser performing of the Euro Stoxx 50 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 7.5% if each index closes at or above its 75% 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 quarterly observation date beginning in January 2018.
The payout at maturity will be par unless either index falls by more than 50%, in which case investors will be exposed to any losses of the worse performing index beyond 50%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $4,652,000
|
| Maturity: | Nov. 3, 2027
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| Coupon: | 7.5% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date that quarter
|
| Price: | Par
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date beginning in January 2018
|
| Payout at maturity: | Par unless either index falls by more than 50%, in which case 1% loss for each 1% decline of worse performing index beyond 50%
|
| Initial levels: | 1,508.316 for Russell 2000 and 3,652.23 for Euro Stoxx 50
|
| Coupon barriers: | 1,131.237 for Russell 2000 and 2,739.1725 for Euro Stoxx 50, 75% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.85%
|
| Cusip: | 40054LVN1
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