Published on 2/1/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $714,000 autocallable contingent coupon notes on indexes
By Tali Rackner
Minneapolis, Feb. 1 – GS Finance Corp. priced $714,000 of autocallable contingent coupon notes due Feb. 1, 2021 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 6.1% per annum if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
Beginning in January 2019, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon, if any, unless any index closes below its 70% coupon trigger level, in which case investors will lose 1% for each 1% decline of the least-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: | Autocallable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000, S&P 500
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| Amount: | $714,000
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| Maturity: | Feb. 1, 2021
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| Contingent coupon: | 6.1% annualized, payable quarterly if each index closes at or above 70% coupon barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, unless any index closes below its 70% trigger level, in which case 1% loss for each 1% decline of least-performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date beginning in January 2019
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| Initial index levels: | 3,672.29 for Euro Stoxx, 1,610.706 for Russell 2000 and 2,839.13 for S&P
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| Coupon trigger levels: | 2,570.603 for Euro Stoxx, 1,127.4942 for Russell 2000 and 1,987.391; 70% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 3.5%
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| Cusip: | 40055AF28
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