Published on 9/21/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $3 million 11.1% contingent yield trigger autocalls on S&P, Russell, Stoxx
By Susanna Moon
Chicago, Sept. 21 – GS Finance Corp. priced $3 million of trigger autocallable contingent yield notes due Aug. 14, 2028 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 11.1% if each index closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $3 million
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| Maturity: | Sept. 14, 2028
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| Coupon: | 11.1% annualized, payable quarterly if each index closes at or above its 80% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Call: | At par if index closes at or above its initial level on each quarterly observation date beginning September 2019
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
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| Initial levels: | 1,717.467 for S&P, 2,877.13 for Russell and 3,309.28 for Stoxx
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| Downside thresholds: | 2,301.704 for S&P, 1,373.974 for Russell and 2,647.424 for Stoxx, 80% of initial levels
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| Pricing date: | Sept. 11
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| Settlement date: | Sept. 14
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 3.95%
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| Cusip: | 36255U844
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