Published on 7/12/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.77 million notes linked to S&P 500, two ETFs
New York, July 12 – GS Finance Corp. priced $2.77 million of callable contingent-coupon underlier-linked notes due Jan. 14, 2021 linked to the S&P 500 index, the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If all the underliers close at or above 75% of their initial level on every trading day during a quarterly observation period then the notes will pay a contingent coupon at an annualized rate of 12.55% for that quarter.
The notes are callable at par starting in January 2018.
At maturity, investors will receive par unless any underlier falls by more than 50% in which case investors will be exposed to the loss of the worst performing underlier.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Underlier-linked notes
|
| Underlying assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, iShares MSCI EAFE exchange-traded fund
|
| Amount: | $2,768,000
|
| Maturity: | Jan. 14, 2021
|
| Coupon: | 12.55%, payable quarterly if all underliers close at or above 75% of their initial level on every trading day during the quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier falls by more than 50% in which case exposure to loss of worst performing underlier from initial level
|
| Initial levels: | 2,427.43 for S&P 500, $31.13 for SPDR oil & gas, $65.00 for iShares EAFE
|
| Coupon barriers: | 1,820.573 for S&P 500, $23.348 for SPDR oil & gas, $48.75 for iShares EAFE; 75% of initial levels
|
| Downside thresholds: | 1,213.715 for S&P 500, $15.565 for SPDR oil & gas, $32.5 for iShares EAFE; 50% of initial levels
|
| Pricing date: | July 10
|
| Settlement date: | July 13
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.5%
|
| Cusip: | 40054LKA1
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
