Published on 1/23/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $589,000 autocallable underlier notes on S&P, Stoxx, PowerShares
By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – GS Finance Corp. priced $589,000 of 0% autocallable underlier-linked notes due Oct. 25, 2021 based on the performance of the Euro Stoxx 50 index, the S&P 500 index and the PowerShares QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 12% annualized call premium if all the components close at or above their initial levels on any quarterly call observation date after six months.
If the notes are not called and all three components finish at or above their initial levels, the payout at maturity will be $1,450 per $1,000 principal amount.
If any component finish below its initial levels but the return of each component is at least negative 30%, the payout will be par.
If the return of any component is less than negative 30%, the payout will be par plus the return of the least performing component, with full exposure to losses.
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 underlier-linked notes
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| Underlying components: | Euro Stoxx 50 index, S&P 500 index, PowerShares QQQ Trust, series 1
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| Amount: | $589,000
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| Maturity: | Oct. 25, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all three components finish at or above their initial levels, $1,450 per $1,000 note; if any component finishes below its initial levels but the return of each component is at least negative 30%, par; if return of any component is less than negative 30%, full exposure to losses of laggard component
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| Call: | At par plus 12% annualized call premium if all components close at or above their initial levels on a quarterly call observation date after six months
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| Initial levels: | 2,798.03 for S&P, 3,620.91 for Stoxx, $165.82 for PowerShares QQQ
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 3.25%
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| Cusip: | 40055AFH5
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