Published on 8/9/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.08 million 7.35% contingent income autocalls on S&P, Russell, Stoxx
By Susanna Moon
Chicago, Aug. 9 – GS Finance Corp. priced $6.08 million of contingent income autocallable securities due Aug. 3, 2023 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.35% 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 underlying index finishes below its 60% downside threshold, 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $6,083,000
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| Maturity: | Aug. 3, 2023
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| Coupon: | 7.35% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If any index finishes at or above 60% downside threshold, 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 date beginning Jan. 31, 2019
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| Initial levels: | 2,816.29 for S&P, 1,670.805 for Russell and 3,525.49 for Stoxx
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| Coupon barriers: | 1,971.403 for S&P, 1,169.5635 for Russell and 2,467.843 for Stoxx, 70% of initial levels
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| Downside thresholds: | 1,689.774 for S&P, 1,002.483 for Russell and 2,115.294 for Stoxx, 60% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.35%
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| Cusip: | 40055QMV1
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