Published on 2/9/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $684,000 autocallable contingent coupon notes on indexes
By Tali Rackner
Minneapolis, Feb. 9 – GS Finance Corp. priced $684,000 of autocallable contingent coupon notes due Aug. 2, 2019 linked to the S&P 500 index, the Euro Stoxx 50 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.
The notes will pay a contingent quarterly coupon of 8% per annum if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
Beginning in July, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call observation date.
The payout at maturity will be par unless any index finishes negative and any index has closed below its 70% coupon trigger level on any day during the life of the notes, in which case investors will be exposed to the losses 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: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $684,000
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| Maturity: | Aug. 2, 2019
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| Contingent coupon: | 8% annualized, payable quarterly if each index closes at or above 70% coupon trigger level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes negative and any index has closed below coupon trigger level on any day during the life of the notes, in which case full exposure to losses of the 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 call observation date beginning July
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| Initial index levels: | 2,872,87 for S&P, 3,647.41 for Euro Stoxx and 1,608.058 for Russell 2000
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| Coupon trigger levels: | 2,011.009 for S&P, 2,553.187 for Euro Stoxx and 1,125.6406 for Russell 2000; 70% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 2.58%
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| Cusip: | 40055AEB9
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