Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10 million autocallable notes on Home Depot, Morgan Stanley, Alphabet
By Wendy Van Sickle
Columbus, Ohio, July 26 – GS Finance Corp. priced $10 million of 0% autocallable equity-linked notes due July 21, 2021 tied to the shares of Home Depot, Inc., Morgan Stanley and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus an 11.31% annualized premium if each stock closes at or above its initial level on any annual call observation date.
If the notes are not called, the payout at maturity will be par plus 33.93% if each stock finishes positive or falls by up to 40%.
If any stock falls by more than 30%, investors will be exposed to any losses of the least-performing stock.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable equity-linked notes
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Underlying stocks: | Home Depot, Inc., Morgan Stanley and Alphabet Inc.
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Amount: | $10 million
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Maturity: | July 21, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each stock finishes at or above initial level or falls by up to 40%, par plus 33.93%; if any stock falls by more than 40%, par plus return of least-performing stock, with full exposure to losses
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Call: | At par plus 11.31% annualized if each stock closes at or above its initial level on any annual call observation date
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Initial levels: | $198.69 for Home Depot, $48.08 for Morgan Stanley, $1,204.42 for Alphabet
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Pricing date: | July 18
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Settlement date: | July 23
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Agent: | Goldman Sachs & Co.
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Fees: | 1.175%
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Cusip: | 40055QN40
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