Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.4 million 5.1% contingent coupon autocalls on Dow, Russell, S&P
By Susanna Moon
Chicago, Oct. 30 – GS Finance Corp. priced $2.4 million of autocallable contingent coupon notes due Oct. 24, 2028 linked to the least performing of the S&P 500 index, the Dow Jones industrial average 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 5.1% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless any index closes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The guarantor is 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: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $2,397,000
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| Maturity: | Oct. 24, 2028
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| Coupon: | 5.1% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call review date beginning October 2019
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| Initial levels: | 1,589.604 for Russell, 2,809.21 for S&P and 25,706.68 for Dow
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| Trigger levels: | 953.7624 for Russell, 1,685.526 for S&P and 15,424.008 for Dow, 60% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.65%
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| Cusip: | 40056EAV0
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