Published on 5/24/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $222,000 10.25% fixed coupon autocalls linked to Nvidia
By Susanna Moon
Chicago, May 1 – GS Finance Corp. priced $222,000 of 10.25% autocallable fixed coupon equity-linked notes due Aug. 22, 2019 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless the stock ever closes below its 60% downside threshold during the life of the notes, in which case investors will be fully exposed to any losses.
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 fixed coupon equity-linked notes
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| Underlying stock: | Nvidia Corp. (Symbol: NVDA)
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| Amount: | $222,000
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| Maturity: | Aug. 22, 2019
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| Coupon: | 10.25% annualized, payable quarterly
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| Price: | Par
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| Payout at maturity: | If stock never closes below 60% downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above its initial level on Nov. 15, 2018, Feb. 15, 2019 or May 15, 2019
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| Initial level: | $245.56
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| Trigger level: | 60% of initial level
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.35%
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| Cusip: | 40055AZ75
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