Published on 7/5/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.56 million 7.4% contingent yield trigger autocalls tied to Nikkei, Russell
By Susanna Moon
Chicago, July 5 – GS Finance Corp. priced $4.56 million of trigger autocallable contingent yield notes due June 30, 2028 linked to the lesser performing of the Nikkei 225 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.4% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Nikkei 225 and Russell 2000
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| Amount: | $4,555,000
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| Maturity: | June 30, 2028
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| Coupon: | 7.4% 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 downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on each quarterly observation date beginning June 27, 2019
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| Initial levels: | 22,271.77 for Nikkei, 1,640.454 for Russell
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| Coupon barriers: | 15,590.239 for Nikkei, 1,148.318 for Russell, 70% of initial levels
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| Downside thresholds: | 11,135.885 for Nikkei, 820.227 for Russell, 50% of initial levels
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| Pricing date: | June 27
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| Settlement date: | June 29
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 3.95%
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| Cusip: | 36255U174
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