Published on 9/24/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.24 million callable contingent coupon notes on Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – GS Finance Corp. priced $1.24 million of callable contingent coupon notes due Sept. 19, 2023 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon at an annual rate of 5.25% if each index closes at or above 60% of its initial level on the observation date.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon unless any index closes below 60% of its initial level, in which case the payout will be par plus the return of the least-performing index with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,242,000
|
| Maturity: | Sept. 19, 2023
|
| Coupon: | 5.25%, payable each quarter that each index closes at or above 60% of its initial level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below 60% of initial level, in which case, par plus return of least-performing index with full exposure to losses
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 26,154.67 for Dow, 1,721.179 for Russell and 2,904.98 for S&P
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.975%
|
| Cusip: | 40055QUL4
|
|
|
© 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.
