Published on 3/17/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.51 million range accrual notes on S&P, Libor
By Wendy Van Sickle
Columbus, Ohio, March 17 – GS Finance Corp. priced $4.51 million of callable quarterly range accrual notes due March 17, 2032 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annualized rate of 6% for each day that Libor is between 0% and 5% and the index closes at or above the 75% trigger level. Interest will be payable quarterly.
The payout at maturity will be par plus accrued interest, if any.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $4,507,000
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| Maturity: | March 17, 2032
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| Coupon: | 6% for each day that the index closes at or above 75% trigger and six-month Libor is between 0% and 5%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest, if any
|
| Call option: | At par on any interest payment date beginning March 17, 2018
|
| Initial index level: | 2,365.45
|
| Trigger level: | 1,774.0875, 75% of initial level
|
| Pricing date: | March 14
|
| Settlement date: | March 17
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.05%
|
| Cusip: | 40054KZK5
|
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