Published on 9/13/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.28 million 5.5% contingent coupon autocalls on indexes, fund
By Susanna Moon
Chicago, Sept. 13 – GS Finance Corp. priced $1.28 million of autocallable contingent coupon notes due Sept. 8, 2023 linked to the least performing of the Russell 2000 index, the Financial Select Sector SPDR fund and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless any underlying asset closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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 assets: | Russell 2000 index, the Financial Select Sector SPDR fund or the Dow Jones industrial average
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| Amount: | $1,279,000
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| Maturity: | Sept. 8, 2023
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| Coupon: | 5.5% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above 70% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index or fund
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| Call: | At par if each asset closes at or above its initial level on any quarterly call review date beginning August 2019
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| Initial levels: | 1,740.753 for Russell, 25,964.82 for Dow and $28.33 for fund
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| Trigger levels: | 1,218.5271 for Russell, 18,175.374 for Dow and $19.831 for fund, 70% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.725%
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| Cusip: | 40055QVQ2
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