Published on 10/28/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.39 million trigger autocallables linked to Russell
By Angela McDaniels
Tacoma, Wash., Oct. 28 – GS Finance Corp. priced $6.39 million of 0% trigger autocallable notes due Oct. 29, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning Nov. 1, 2017, the notes will be automatically called at par of $10 plus 8% 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 40%. Investors will receive par if index declines by 40% 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 40%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | Russell 2000
|
| Amount: | $6,394,620
|
| Maturity: | Oct. 29, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is zero or positive, par plus 40%; 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 Nov. 1, 2017, automatically at par plus 8% per year if index closes at or above initial level on any quarterly call observation date
|
| Initial index level: | 1,189.947
|
| Downside threshold: | 713.968, 60% of initial level
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.8%
|
| Cusip: | 36251U152
|
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