Published on 6/18/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $305,000 contingent coupon autocalls tied to Stoxx, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 18 – GS Finance Corp. priced $305,000 of autocallable contingent coupon notes due Dec. 19, 2019 linked to the lesser 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 9.5% 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 six months.
The payout at maturity will be par unless any index closes below its 70% trigger level any day during the life of the notes, 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50, S&P 500, Russell 2000
|
| Amount: | $305,000
|
| Maturity: | Dec. 19, 2019
|
| Coupon: | 9.5% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level or no index has ever closed below 70% trigger level during life of notes, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly call review date after six months
|
| Initial levels: | 3,475.58 for Stoxx, 1,682.299 for Russell, 2,786.85 for S&P
|
| Coupon barriers: | 70% of initial levels
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | June 12
|
| Settlement date: | June 15
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.76%
|
| Cusip: | 40055QAP7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
