Published on 9/10/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $210,000 contingent coupon autocalls tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 10 – GS Finance Corp. priced $210,000 of autocallable contingent coupon notes due Sept. 8, 2020 linked to the lesser performing of 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 5.6% if each index closes at or above its 75% 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 either index finishes below its initial level and either index ever closes below its 75% 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: | S&P 500, Russell 2000
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Amount: | $210,000
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Maturity: | Sept. 8, 2020
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Coupon: | 5.6% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its 75% trigger level; otherwise, 1% loss for each 1% decline of worse 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: | 1,734.749 for Russell and 2,194.04 for S&P
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Trigger levels: | 1,301.06175 for Russell and 2,185.53 for S&P, 75% of initial levels
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Pricing date: | Aug. 29
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Settlement date: | Aug. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.175%
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Cusip: | 40055QQN5
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