Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $386,000 contingent coupon autocallables on S&P, Russell
By Tali Rackner
Minneapolis, Dec. 29 – GS Finance Corp. priced $386,000 of autocallable contingent coupon notes due June 6, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 7.5% per year if each index closes at or above 70% of its initial level on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either index falls by more than 30%, in which case investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| 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 indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $386,000
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| Maturity: | June 6, 2019
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| Coupon: | 7.5% annualized, payable quarterly if each index closes at or above 80% coupon barrier on review date that quarter
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| Price: | Par
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| Call: | Automatically at par if each index closes at or above its initial level on any quarterly call observation date
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| Payout at maturity: | Par unless either index falls by more than 30%, in which case investors will be fully exposed to the decline of lesser-performing index
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| Initial levels: | 2,647.58 for S&P and 1,544.141 for Russell
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| Coupon barrier/triggers: | 1,853.306 for S&P and 1,080.8987 for Russell, 70% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 40055A3D7
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