Published on 3/31/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $8.2 million 0% trigger autocallables tied to the S&P
By Devika Patel
Knoxville, Tenn., March 31 – GS Finance Corp. priced $8.2 million of 0% trigger autocallable notes due April 4, 2019 linked to 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 be called at par of $10 plus a call return of 6.65% per semi-annual period if the index closes at or above the initial level on any quarterly observation date beginning Sept. 29, 2017.
If index return falls by up to 15%, the payout will be par.
Otherwise, investors be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger autocallable notes
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Underlying index: | S&P 500
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Amount: | $8,197,500
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Maturity: | April 4, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par if the index falls by up to 15%; otherwise, full exposure to any losses
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Call: | Automatically at par plus 6.65% per semi-annual period if index closes at or above initial level on any quarterly observation date beginning Sept. 29, 2017
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Initial level: | 2,361.13
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Trigger level: | 2,006.96, 85% of initial level
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Pricing date: | March 29
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Settlement date: | March 31
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 1.675%
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Cusip: | 36251V481
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