Published on 11/28/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $2.12 million 7% contingent coupon autocallables tied to S&P, Stoxx
By Susanna Moon
Chicago, Nov. 28 – GS Finance Corp. priced $2.12 million of autocallable contingent coupon notes due May 15, 2026 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each index closes at or above its 80% coupon barrier on the observation date for that month.
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 either index falls by more than 20%, in which case investors will be exposed to any losses of the worse performing index beyond the buffer.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50
|
| Amount: | $2,117,000
|
| Maturity: | May 15, 2026
|
| Coupon: | 7% annualized, payable monthly if each index closes at or above 80% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | If each index falls by up to 20%, par; otherwise, 1% loss for each 1% decline of worse performing index beyond 20%
|
| Call: | At par if each index closes at or above its initial level on any quarterly call review date from November 2019 through April 2026
|
| Initial levels: | 2,806.83 for S&P, 3,237.60 for Stoxx
|
| Coupon barriers: | 2,245.464 for S&P, 2,590.08 for Stoxx, 80% of initial levels
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 13
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 5.15%
|
| Cusip: | 40056EGB8
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
