Published on 1/18/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $215,000 contingent coupon autocallables on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Jan. 18 – GS Finance Corp. priced $215,000 of autocallable contingent coupon notes due July 8, 2019 linked to the Euro Stoxx 50, S&P 500 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.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above 70% of its initial level on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any index finishes below its initial level and any index closes below its trigger level, 70% of its initial level, any day during the life of the notes, in which case investors will be fully exposed to the decline of the least-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $215,000
|
| Maturity: | July 8, 2019
|
| Coupon: | 8% annualized, payable quarterly if each index closes at or above coupon barrier on review date that quarter
|
| Price: | Par
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly call observation date
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index closes below trigger level during life of notes, in which case investors will be fully exposed to the loss of the least performing index
|
| Initial levels: | 1,591.972 for Russell 2000, 3,612.61 for Euro Stoxx 50 and 2,786.24 for S&P 500
|
| Coupon barrier/triggers: | 1,114.3804 for Russell 2000, 2,528.827 for Euro Stoxx 50 and 950.368 for S&P 500, 70% of initial levels
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 18
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.525%
|
| Cusip: | 40055ACC9
|
|
|
|
|
© 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.
