Published on 3/14/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $131,000 7.25% contingent coupon autocalls tied to three indexes
By Susanna Moon
Chicago, March 14 – GS Finance Corp. priced $131,000 of autocallable contingent coupon notes due March 6, 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 7.25% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless any underlying index closes below its 50% 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: | Autocallable contingent coupon notes
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| Underlying assets: | Russell 2000, Euro Stoxx 50 and S&P 500
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| Amount: | $131,000
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| Maturity: | March 6, 2028
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| Coupon: | 7.25% 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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| Payout at maturity: | If each index finishes at or above 50% downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any review date from February 2019 through November 2027
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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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| Coupon barriers: | 70% of initial levels
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| Trigger levels: | 50% 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: | 5.45%
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| Cusip: | 40055AKM8
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