Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: GS prices $4.13 million trigger autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., April 29 – GS Finance Corp. priced $4.13 million of 0% trigger autocallable notes due April 30, 2021 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 May 2, 2017, the notes will be automatically called at par of $10 plus 9% per year if the index closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the index return is zero or positive, the payout at maturity will be par plus 45%. Investors will receive par if index declines by 33% or less and will lose 1% for every 1% that the final index level is below the initial level if it declines by more than 33%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $4,127,700
|
| Maturity: | April 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is zero or positive, par plus 45%; if index return is negative but final level is greater than or equal to downside threshold, par; if final index level is below downside threshold, full exposure to index’s decline from initial level
|
| Call: | Beginning May 2, 2017, notes will be automatically called at par plus 9% per year if index closes at or above initial level on any quarterly call observation date
|
| Initial index level: | 3,130.43
|
| Downside threshold: | 2,097.39, 67% of initial level
|
| Pricing date: | April 27
|
| Settlement date: | April 29
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.85%
|
| Cusip: | 36250E829
|
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