Published on 9/27/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.37 million contingent coupon autocallables on three indexes
By Marisa Wong
Morgantown, W.Va., Sept. 27 – GS Finance Corp. priced $9.37 million of autocallable contingent coupon notes due Sept. 26, 2019 linked to the Euro Stoxx 50 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 9.05% if each index closes at or above its trigger level, 80% of its initial level, on the determination date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date prior to maturity.
The payout at maturity will be par unless any index finishes below its 80% trigger level, in which case investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $9.37 million
|
| Maturity: | Sept. 26, 2019
|
| Coupon: | 9.05%, payable each quarter that each index closes at or above trigger level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger level, in which case full exposure to decline of least performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly determination date prior to maturity
|
| Initial levels: | 3,539.59 for Euro Stoxx, 1,444.184 for Russell and 2,500.60 for S&P 500
|
| Trigger levels: | 2,831.672 for Euro Stoxx, 1,155.3472 for Russell and 2,000.48 for S&P 500; 80% of initial levels
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.925%
|
| Cusip: | 40054LTS3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
