Published on 2/16/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $532,000 5.87% contingent coupon autocalls on three indexes
By Susanna Moon
Chicago, Feb. 16 – GS Finance Corp. priced $532,000 of autocallable contingent coupon notes due Feb. 8, 2023 linked to the least performing of 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 will pay a contingent quarterly coupon at an annual rate of 5.87% if each index closes at or above its 80% 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 one year.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst 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: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $532,000
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| Maturity: | Feb. 8, 2023
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| Coupon: | 5.87% annualized, payable quarterly if each index closes at or above 80% 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 February 2019
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| Payout at maturity: | Par unless any index finishes below 60% trigger, in which case 1% loss per 1% decline of worst performing index
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| Initial index levels: | 26,186.71 for Dow, 1,579.866 for Russell, 2,821.98 for S&P
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| Coupon barriers: | 80% of initial levels
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.725%
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| Cusip: | 40055AGX9
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