Published on 12/26/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $10 million five-year buffered autocalls tied to Stoxx 50
By Susanna Moon
Chicago, Dec. 26 – GS Finance Corp. priced $10 million of autocallable buffered notes due Dec. 15, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12.25% if the index closes at or above its initial level on any annual call observation date.
If the index finishes at or above its initial level, the payout at maturity will be the maximum settlement amount of $1,612.5 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% index decline beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable buffered notes
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| Underlying index: | Euro Stoxx 50
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| Amount: | $10 million
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| Maturity: | Dec. 15, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 61.25%; if index falls by 15% or less, par; otherwise, 1% loss per 1% drop beyond 15%
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| Call: | At par plus 12.25% if index closes at or above initial level on Dec. 11, 2018, Dec. 11, 2019, Dec. 11, 2020 or Dec. 13, 2021
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| Initial level: | 3,582.21
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 14
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 2.125%
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| Cusip: | 40055ABA4
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