Published on 8/1/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.15 million contingent coupon autocalls on Facebook, Netflix, Amazon
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – GS Finance Corp. priced $2.15 million of autocallable contingent coupon notes due July 29, 2019 linked to the lesser performing of the shares of Amazon.com, Inc., Facebook, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16.75% if each underlying stock closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any review date.
The payout at maturity will be par plus the final coupon, if any, unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Amazon.com, Inc., Facebook, Inc. and Netflix, Inc.
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| Amount: | $2,153,000
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| Maturity: | July 29, 2019
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| Coupon: | 16.75% annualized, payable quarterly if each stock closes at or above 80% coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | If each stock finishes above 65% trigger level, par plus final coupon, if any; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above its initial level on any quarterly call review date
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| Initial levels: | $1,829.24 for Amazon, $214.67 for Facebook, $357.32 for Netflix
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| Pricing date: | July 24
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| Settlement date: | July 27
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.1%
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| Cusip: | 40055QMC3
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