Published on 9/21/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.9 million callable contingent coupon notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – GS Finance Corp. priced $1.9 million of callable contingent coupon notes due Sept. 17, 2028 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annual rate of 5.5% if each index closes at or above 75% of its initial level on the observation date.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon, if any.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $1,903,000
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| Maturity: | Sept. 17, 2028
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| Coupon: | 5.5%, payable each month that each index closes at or above 75% of its initial level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 1,715.696 for Russell and 2,888.92 for S&P
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 17
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.8%
|
| Cusip: | 40055QYU0
|
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