Published on 11/28/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.80 million trigger callable yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Nov. 28 – GS Finance Corp. priced $9,802,500 of 5.632% trigger callable yield notes due Nov. 19, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The notes are callable at par on any coupon payment date beginning on May 18.
The payout at maturity will be par of $10 unless any index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst 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: | Trigger callable yield notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $9,802,500
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Maturity: | Nov. 19, 2020
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Coupon: | 5.632% per year, payable quarterly
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of worst performing index
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Call option: | At par quarterly on any coupon date beginning on May 18
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Initial levels: | 2,585.64 for S&P, 1,486.881 for Russell and 3,564.80 for Euro Stoxx
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Downside thresholds: | 1,551.384 for S&P, 892.129 for Russell and 2,138.880 for Euro Stoxx; 60% of initial levels
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Pricing date: | Nov. 16
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Settlement date: | Nov. 21
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 1.675%
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Cusip: | 36254F384
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