Published on 4/12/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.31 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 12 – GS Finance Corp. priced $5.31 million of trigger callable contingent yield notes due Oct. 8, 2019 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and 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 pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above 70% of its initial level on every trading day that quarter.
The notes will be callable at par on any coupon payment date on or after Oct. 10.
The payout at maturity will be par of $10 unless any index finishes below its 70% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger callable contingent yield notes
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Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $5.31 million
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Maturity: | Oct. 8, 2019
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Coupon: | 10% per year, payable quarterly if each index closes at or above coupon barrier on every trading day that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below its downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index
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Call option: | At par on any coupon payment date after six months
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Initial levels: | 2,362.72 for S&P 500, 1,385.920 for Russell 2000 and 3,500.93 for Euro Stoxx 50
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Coupon barriers: | 1,653.904 for S&P 500, 970.144 for Russell 2000 and 2,450.651 for Euro Stoxx 50, 70% of initial levels
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Downside thresholds: | 1,653.904 for S&P 500, 970.144 for Russell 2000 and 2,450.651 for Euro Stoxx 50, 70% of initial levels
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Pricing date: | March 31
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Settlement date: | April 7
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Agent: | Goldman, Sachs & Co.
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Fees: | 1.675%
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Cusip: | 36251V499
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