Published on 11/8/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $628,000 absolute return notes tied to S&P 500, Russell
By Susanna Moon
Chicago, Nov. 8 – GS Finance Corp. priced $628,000 of 0% notes due Nov. 4, 2020 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.15 times the return of the worse performing index.
If either index falls but finishes at or above its 70% barrier level, the payout will be par plus the absolute value of the return of he worse performing index.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The guarantor is 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: | Notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $628,000
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| Maturity: | Nov. 4, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 1.15 times the return of worse performing index; if either index falls by up to 30%, par plus absolute return of worse performing index; otherwise, full exposure to any losses of worse performing index
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| Initial levels: | 1,502.773 for Russell, 2,575.26 for S&P
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.92%
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| Cusip: | 40054LVU5
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