Published on 2/8/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $913,000 5.5% contingent coupon autocalls on two indexes
By Susanna Moon
Chicago, Feb. 8 – GS Finance Corp. priced $913,000 of autocallable contingent coupon notes due Aug. 2, 2019 linked to the least performing of the Russell 2000 index and the S&P 500 index, 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 index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any call observation date after six months.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be exposed to any losses of the worse performing index.
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, S&P 500 index
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| Amount: | $913,000
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| Maturity: | Aug. 2, 2019
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| Coupon: | 5.5% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Call: | At par if each index closes at or above its initial level on any interest payment date beginning July 2018
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| Payout at maturity: | Par unless either index finishes below its initial level and ever closes below its 70% trigger, in which case 1% loss per 1% decline of worse performing index
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| Initial index levels: | 1,608.058 for Russell, 2,872.87 for S&P
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| Trigger levels: | 1,125.6406 for Russell, 2,011.009 for S&P, 70% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 40055AE94
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