Published on 11/19/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.6 million autocallable monthly range accrual notes on indexes
By Marisa Wong
Madison, Wis., Nov. 19 - Goldman Sachs Group, Inc. priced $1.6 million of autocallable monthly index-linked range accrual notes due Nov. 20, 2028 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8% per year multiplied by the proportion of days on which each index closes at or above 70% of its initial level. Interest will be payable monthly.
Beginning Nov. 20, 2016, the notes will be automatically called at par plus accrued interest if each index closes at or above its initial level on any monthly call observation date.
If the notes are not called, the payout at maturity will be par unless any index finishes below the 50% trigger level, in which case investors will lose 1% for every 1% that the least-performing index drops below its initial level.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable monthly index-linked range accrual notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $1.6 million
|
| Maturity: | Nov. 20, 2028
|
| Coupon: | 8% per year multiplied by proportion of days on which each index closes at or above 70% of its initial level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below 50% trigger level, in which case 1% loss for every 1% that least-performing index drops below its initial level
|
| Call: | Beginning Nov. 20, 2016, automatically at par plus accrued interest if each index closes at or above its initial level on any monthly call observation date
|
| Initial levels: | 3,054.53 for Euro Stoxx, 1,116.20 for Russell, 1,798.18 for S&P
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.66%
|
| Cusip: | 38147QL61
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