By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – GS Finance Corp. priced $4.5 million of 0% trigger autocallable notes due Oct. 14, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning in October 2018, the notes will be automatically called at par plus 9% a year if the index closes above its initial level any annual observation date.
If the notes are not called and index finishes at or above its initial level, the payout at maturity will be par plus 45%. If the index finishes below its initial level but above its downside threshold, 58% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index’s final level is less than its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable notes
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| Underlying indexes: | Euro Stoxx 50
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| Amount: | $4.5 million
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| Maturity: | Oct. 14, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If notes are not called and final level of index is greater than initial level, par plus 45%; if index level is below initial level but greater than or equal to downside threshold, par; otherwise, 1% loss for every 1% that index’s final level is less than initial level
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| Call: | Beginning in October 2018, automatically called at par plus 9% a year if index closes above initial level on an annual observation date
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| Initial index level: | 3,598.79
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| Downside threshold: | 2,087.30; 58% of initial level
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 16
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 2.8%
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| Cusip: | 36254F178
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