Published on 3/14/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.77 million 6% contingent coupon callables on Russell, Stoxx, S&P
By Susanna Moon
Chicago, March 14 – GS Finance Corp. priced $1.77 million of callable contingent coupon notes due Feb. 28, 2028 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 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 6% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par n any interest payment date after six months.
The payout at maturity will be par unless any underlying index closes below its 60% downside threshold, in which case investors will be fully 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: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000, Euro Stoxx 50 and S&P 500
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| Amount: | $1,769,000
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| Maturity: | Feb. 28, 2028
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| Coupon: | 6% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any interest payment date from August 2018 through November 2021
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| Initial levels: | 2,779.60 for S&P, 3,463.18 for Stoxx and 1,559.332 for Russell
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.8%
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| Cusip: | 40055AKZ9
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