Published on 4/12/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.42 million contingent coupon autocalls tied to Russell, Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, April 12 – GS Finance Corp. priced $1.42 million of autocallable contingent coupon notes due April 12, 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 6.5% if each index closes at or above its 75% 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 plus the final coupon, if any, unless any index finishes below 60% of its initial 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 and S&P 500
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Amount: | $1,419,000
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Maturity: | April 12, 2023
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Coupon: | 6.5% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus final coupon, if any, unless any index finishes below 60% of its initial level; 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 after one year
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Initial levels: | 24,505.22 for Dow, 2,662.84 for S&P and 1,542.927 for Russell
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Pricing date: | April 5
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Settlement date: | April 10
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.725%
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Cusip: | 40055AUW5
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