Published on 7/21/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $20.43 million callable contingent coupon notes linked to indexes
By Marisa Wong
Morgantown, W.Va., July 21 – GS Finance Corp. priced $20.43 million of callable contingent coupon notes due July 6, 2020 linked to the Russell 2000 index, the Dow Jones industrial average and 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.65% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date from January 2018 to April 2020.
The payout at maturity will be par plus the final coupon, unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and S&P 500 index
|
| Amount: | $20,426,000
|
| Maturity: | July 6, 2020
|
| Coupon: | 6.65%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless any index finishes below 60% of initial level, in which case full exposure to loss of least performing index
|
| Call option: | At par on any coupon payment date from January 2018 to April 2020
|
| Initial levels: | 1,415.359 for Russell, 21,349.63 for Dow and 2,423.41 for S&P
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.78%
|
| Cusip: | 40054LHG2
|
|
|
© 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.
