Published on 11/1/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.95 million autocallables on GS Momentum Builder
By Marisa Wong
Morgantown, W.Va., Nov. 1 – GS Finance Corp. priced $2.54 million of 0% autocallable notes due Nov. 9, 2023 linked to the GS Momentum Builder Multi-Asset 5S ER index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a call premium of 10% per year if the index’s closing level on any annual call observation date is greater than or equal to the applicable call level, which is 105% of the initial index level on the first call observation date, 110% on the second call observation date, 115% on the third call observation date, 120% on the fourth call observation date, 125% on the fifth call observation date and 130% on the last call observation date.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.5 times the index return. Otherwise, the payout will be par.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable notes
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| Underlying index: | GS Momentum Builder Multi-Asset 5 ER index
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| Amount: | $2,542,000
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| Maturity: | Nov. 9, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any index gain, floor of par
|
| Call: | At par plus a call premium of 10% per year if the index’s closing level on any annual call observation date is greater than or equal to the applicable call level, which is 105% of the initial index level on the first call observation date, 110% on the second call observation date, 115% on the third call observation date, 120% on the fourth call observation date, 125% on the fifth call observation date and 130% on the last call observation date
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| Initial level: | 98.91
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Goldman, Sachs & Co.
|
| Fees: | 4.9%
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| Cusip: | 40054KLC8
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