Published on 1/4/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $656,000 index-linked notes on S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – GS Finance Corp. priced $656,000 of 0% index-linked notes due Dec. 26, 2022 linked to the lesser performing of the S&P 500 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.
If the return of each index is zero or positive, the payout at maturity will be par plus the greater of the return of the lesser performing index and 37%.
If either index falls but the return of each index is at least negative 30%, the payout will be par.
If either index falls by more than 30%, investors will be fully exposed to the decline of the worse 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: | Index-linked notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $656,000
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Maturity: | Dec. 26, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus greater of return of the lesser performing index and 37%; if either index falls but the return of each index is at least negative 30%, par; if either index falls by more than 30%, investors will be fully exposed to the decline of the worse performing index
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Initial levels: | 1,544.226 for Russell 2000 and 2,680.50 for S&P 500
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Pricing date: | Dec. 26
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Settlement date: | Dec. 29
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 4.2%
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Cusip: | 40055AAX5
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