Published on 7/27/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.88 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 27 – GS Finance Corp. priced $4.88 million of 0% trigger callable contingent yield notes due July 21, 2028 linked to the Russell 2000 index, the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above its coupon barrier, 70% of its initial level, on determination date that quarter.
The notes will be callable at par plus any coupon due on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worst performing index from its initial level.
Goldman Sachs & Co. is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000, MSCI Emerging Markets and Euro Stoxx 50
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| Amount: | $4,875,000
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| Maturity: | July 21, 2028
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| Coupon: | 10%, payable quarterly if each index closes at or above coupon barrier on determination date
|
| Price: | Par of $10
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| Call option: | At par plus any coupon on any quarterly observation date after six months
|
| Payout at maturity: | Par plus final coupon, if any, unless any index closes below downside threshold level, in which case will lose 1% for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 1,691.869 for Russell, 1,068.75 for Emerging Markets, 3,485.08 for Stoxx
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| Coupon barriers: | 845.935 for Russell, 534.375 for Emerging Markets, 1,742.54 for Stoxx, 70% of initial levels
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| Downside thresholds: | 845.935 for Russell, 534.375 for Emerging Markets, 1,742.54 for Stoxx, 70% of initial levels
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| Pricing date: | July 18
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| Settlement date: | July 23
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| Agent: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
| Fees: | 3.65%
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| Cusip: | 36255U463
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