Published on 12/19/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $599,000 contingent coupon callables tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – GS Finance Corp. priced $599,000 of callable contingent coupon notes due Dec. 21, 2027 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 5.35% if each index closes at or above its 70% coupon barrier on the review date for that month.
The notes will be callable at par on any monthly payment date after a year
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below its 60% trigger, 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index
|
| Amount: | $599,000
|
| Maturity: | Dec. 21, 2027
|
| Coupon: | 5.35% annualized, payable monthly if each index closes at or above 70% coupon barrier on review date for that month
|
| Price: | Par
|
| Call option: | At par on any monthly payment date after one year
|
| Payout at maturity: | Par plus coupon, if any, unless either index finishes below 60% trigger, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 1,506.950 for Russell, 2,652.01 for S&P
|
| Coupon barriers: | 1,054.865 for Russell, 1,856.407 for S&P; 70% of initial levels
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 19
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.8%
|
| Cusip: | 40055A7D3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
