Published on 9/29/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.16 million contingent coupon autocallables on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – GS Finance Corp. priced $7.16 million of autocallable contingent coupon notes due Oct. 4, 2027 linked to the Euro Stoxx 50 index and the Russell 2000 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 8% if each index closes at or above its trigger level, 75% of its initial level, on the observation day that period.
The notes will be called at par on any coupon payment date after a year if each index closes above its initial level.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the loss of the least-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $7,161,000
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| Maturity: | Oct. 4, 2027
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| Coupon: | 8%, payable quarterly if each index closes at or above trigger level on observation day that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless either index finishes below 50% of initial level, in which case full exposure to loss of least performing index
|
| Call: | At par on any coupon payment date after one year if each index closes above initial level
|
| Initial levels: | 1,484.813 for Russell 2000 and 3,555.17 for Euro Stoxx 50
|
| Trigger levels: | 1,113.60975 for Russell 2000 and 2,666.3775 for Euro Stoxx 50, 75% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.45%
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| Cusip: | 40054LRV8
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