Published on 12/1/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $9.07 million trigger autocallables tied to S&P, Stoxx
By Susanna Moon
Chicago, Dec. 1 – GS Finance Corp. priced $9.07 million of 0% autocallable notes due Nov. 28, 2022 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 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 an annualized call premium of 10% if each index closes at or above its initial level on any quarterly observation date.
If each index finishes at or above its initial level, the payout at maturity will be par plus the maturity date premium of 50%.
If the notes are not called, the payout will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
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 index-linked notes
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Underlying indexes: | S&P 500, Euro Stoxx 50
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Amount: | $9,065,000
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Maturity: | Nov. 28, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If each index gains, par plus 50%; if either index falls by up to 30%, par; otherwise, 1% loss for each 1% decline of worse performing index
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Call: | At par plus 10% annualized if each index closes at or above its initial level on any quarterly observation date
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Initial levels: | 2,599.03 for S&P, 3,579.32 for Stoxx
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Trigger levels: | 70% of initial levels
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Pricing date: | Nov. 21
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Settlement date: | Nov. 24
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Agent: | Goldman Sachs & Co.
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Fees: | 3.35%
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Cusip: | 40055A4J3
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