Published on 12/29/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $9.2 million trigger autocallable contingent notes on Stoxx, S&P
By Tali Rackner
Minneapolis, Dec. 29 – GS Finance Corp. priced $9.2 million of 0% trigger autocallable contingent yield notes due Nov. 22, 2022 linked to the MSCI EAFE 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.65% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any call observation date.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below its 70% downside threshold level, in which case investors will lose 1% for every 1% loss of the lesser-performing index from its initial level.
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 autocallable contingent yield notes
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| Underlying indexes: | MSCI EAFE index and Russell 2000 index
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| Amount: | $9,199,000
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| Maturity: | Nov. 22, 2022
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| Coupon: | 6.65%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any call observation date
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of the lesser-performing index
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| Initial levels: | 1,986.15 for MSCI EAFE, 1,492.822 for Russell
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| Coupon barriers/downside threshold: | 1,390.305 for MSCI EAFE, 1,044.975 for Russell, 70% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agents: | Goldman Sachs & Co.
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| Fees: | 2.85%
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| Cusip: | 36254F343
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