Published on 12/8/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $5.01 million 5% contingent yield trigger autocalls tied to two indexes
By Susanna Moon
Chicago, Dec. 5 – GS Finance Corp. priced $5.01 million of trigger autocallable contingent yield notes due Dec. 2, 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 6% if each index closes at or above its 58% 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 valuation date after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 58% downside threshold, 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: | Trigger autocallable contingent yield notes
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| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $5,013,900
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| Maturity: | Dec. 2, 2027
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| Coupon: | 6% annualized, payable quarterly if each index closes at or above 58% coupon barrier on review date for 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 valuation date beginning November 2018
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| Payout at maturity: | Par unless either index finishes below 58% downside threshold, in which case 1% loss for each 1% decline of worse performing index
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| Initial index levels: | 1,536.433 for Russell, 3,583.49 for Stoxx
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| Downside thresholds: | 891.131 for Russell, 2,078.424 for Stoxx; 58% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.95%
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| Cusip: | 36254F434
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