Published on 12/11/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.02 million 5.1% contingent coupon autocalls on Russell, S&P 500
By Susanna Moon
Chicago, Dec. 11 – GS Finance Corp. priced $1.02 million of autocallable contingent coupon notes due June 4, 2025 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 monthly coupon at an annual rate of 5.1% if each index closes at or above its 80% coupon barrier on the review date for that month.
The notes will be called at par if each index closes at or above its initial level on any valuation date beginning May 2019.
The payout at maturity will be par plus the contingent coupon unless either index falls by more than 20%, in which case investors will be fully exposed to any losses of the worse performing index beyond the buffer.
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: | $1,015,000
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| Maturity: | June 4, 2025
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| Coupon: | 5.1% annualized, payable monthly if each index closes at or above 80% coupon barrier on review date for that month
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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 from May 2019 through February 2025
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| Payout at maturity: | Par unless either index falls by more than 20%, in which case 1% loss for each 1% decline of worse performing index beyond 20%
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| Initial index levels: | 1,536.433 for Russell, 2,627.04 for S&P
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| Coupon barriers: | 1,229.1464 for Russell, 2,101.632 for S&P; 80% 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: | 4.9%
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| Cusip: | 40055A3K1
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