Published on 3/31/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $8.2 million 0% trigger autocallables tied to the S&P
By Devika Patel
Knoxville, Tenn., March 31 – GS Finance Corp. priced $8.2 million of 0% trigger autocallable notes due April 4, 2019 linked to the S&P 500 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 of $10 plus a call return of 6.65% per semi-annual period if the index closes at or above the initial level on any quarterly observation date beginning Sept. 29, 2017.
If index return falls by up to 15%, the payout will be par.
Otherwise, investors be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $8,197,500
|
| Maturity: | April 4, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if the index falls by up to 15%; otherwise, full exposure to any losses
|
| Call: | Automatically at par plus 6.65% per semi-annual period if index closes at or above initial level on any quarterly observation date beginning Sept. 29, 2017
|
| Initial level: | 2,361.13
|
| Trigger level: | 2,006.96, 85% of initial level
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 1.675%
|
| Cusip: | 36251V481
|
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