Published on 2/14/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.17 million 2.5% autocallable notes on Stoxx, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – GS Finance Corp. priced $1,166,000 of 2.5% autocallable notes due Aug. 15, 2019 linked to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus the coupon if all indexes close at or above their initial levels on any quarterly call observation date.
If each index closes above its 70% trigger level every day during the life of the notes or each index finishes at or above its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the least performing index from its initial level.
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 fixed-coupon index-linked notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $1,166,000
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| Maturity: | Aug. 15, 2019
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| Coupon: | 2.5%, payable monthly
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| Price: | Par
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date
|
| Payout at maturity: | Par if each index finishes at or above initial level or if no index has closed below 70% of its initial level during life of notes; otherwise, 1% loss for each 1% decline of the least performing index from its initial level
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| Initial index levels: | 2,581.00 for S&P, 3,377.30 for Euro Stoxx and 1,463.793 for Russell
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 13
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.4%
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| Cusip: | 40055AKK2
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