Published on 2/15/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.36 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 15 – GS Finance Corp. priced $6.36 million of trigger callable contingent yield notes due Aug. 19, 2019 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Euro Stoxx 50 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 9.85% if each index closes at or above 70% of its initial level on every trading during the applicable quarterly observation period.
The notes will be callable at par on any coupon payment date on or after Aug. 17, 2017.
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: | S&P 500 index, Nasdaq-100 index and Euro Stoxx 50 index
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| Amount: | $6,358,000
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| Maturity: | Aug. 19, 2019
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| Coupon: | 9.85 % per year, payable on a quarter if each index closes at or above downside threshold level on every trading during the applicable quarterly observation period
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any coupon payment date on or after Aug. 17, 2017
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| Initial levels: | 2,316.10 for S&P, 5,226.686 for Nasdaq and 3,270.83 for Stoxx
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| Downside thresholds: | 1,621.270 for S&P, 3,658.680 for Nasdaq and 2,289.581 for Stoxx; 70% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 17
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 1.675%
|
| Cusip: | 36251U855
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