Published on 7/6/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.39 million autocallable index-linked notes on S&P, Dow, Russell
By Tali Rackner
Minneapolis, July 6 – GS Finance Corp. priced $6.39 million of 0% autocallable index-linked notes due July 9, 2024 tied to the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 12.25% annualized premium if each index closes at or above its initial index level on any annual call observation date after one year.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus 73.5%.
If any index falls by up to 30%, the payout at maturity will be par.
If any index falls by more than 30%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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| Amount: | $6,394,000
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| Maturity: | July 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 73.5%; if any index falls by up to 30%, par; if any index falls by more than 30%, par plus return of least-performing index, with full exposure to losses
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| Call: | At par plus 12.25% annualized if each index closes at or above its initial level on any annual call observation date after one year
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| Initial index levels: | 2,718.37 for S&P 500, 24,271.41 for Dow, 1,643.069 for Russell
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| Pricing date: | June 29
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| Settlement date: | July 6
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| Agent: | Goldman Sachs & Co.
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| Fees: | 0.375%
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| Cusip: | 40055QF64
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