Published on 12/29/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.44 million autocallables on GS Momentum Builder
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – GS Finance Corp. priced $1.44 million of 0% autocallable notes due Jan. 11, 2024 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 2 times the index return. Otherwise, the payout will be par.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying index: | GS Momentum Builder Multi-Asset 5 ER index
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| Amount: | $1,436,000
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| Maturity: | Jan. 11, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index level is greater than the initial index level, par plus 2 times the index return; otherwise, par
|
| Call: | Automatically 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: | 98.69
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 30
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 4.9%
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| Cusip: | 40054KR32
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