Published on 7/23/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $593,000 contingent coupon autocallables tied to S&P 500, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 23 – GS Finance Corp. priced $593,000 of autocallable contingent coupon notes due Jan. 21, 2020 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 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 9.75% if each index closes at or above its 70% coupon barrier on the observation date 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 either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse 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 indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
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| Amount: | $593,000
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| Maturity: | Jan. 21, 2020
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| Coupon: | 9.75% annualized, payable quarterly if each index closes at or above 70% coupon barrier on observation day that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 70% trigger level, 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 quarterly call review date after six months
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| Initial levels: | 1,640.454 for Russell, 2,699.63 for S&P 500, 3,445.49 for Euro Stoxx 50
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| Coupon barriers: | 1,183.1939 for Russell, 1,958.803 for S&P 500, 2,411.843 for Euro Stoxx 50, 70% of initial levels
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| Trigger levels: | 1,183.1939 for Russell, 1,958.803 for S&P 500, 2,411.843 for Euro Stoxx 50, 70% of initial levels
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| Pricing date: | July 12
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| Settlement date: | July 17
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.98%
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| Cusip: | 40055QH39
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