Published on 11/6/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $750,000 contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, Nov. 6 – GS Finance Corp. priced $750,000 of callable contingent coupon notes due Nov. 2, 2022 linked to the least performing of the Dow Jones industrial average, S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its 75% coupon barrier on the review date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $750,000
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| Maturity: | Nov. 2, 2022
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| Coupon: | 6% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date for that quarter
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| Price: | Par
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| Call option: | At par on any interest payment date from November 2018 through August 2022
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| Payout at maturity: | Par unless either index finishes below 65% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Initial index levels: | 23,348.74 for Dow, 1,490.899 for Russell, 2,572.83 for S&P
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| Coupon barriers: | 75% of initial levels
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| Trigger levels: | 65% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 2
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.725%
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| Cusip: | 40054LXK5
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