Published on 10/18/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.61 million 8% contingent income callables on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – GS Finance Corp. priced $4.61 million of contingent income callable securities due April 9, 2021 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 8% if each index closes at or above its downside threshold on every day that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any underlying index finishes below its 70% 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable 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: | $4,612,000
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| Maturity: | April 9, 2021
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| Coupon: | 8% annualized, payable quarterly if each index closes at or above downside threshold on every day that quarter
|
| Price: | Par
|
| Payout at maturity: | If any index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any coupon payment date beginning Jan. 10, 2019
|
| Initial levels: | 2,885.57 for S&P, 1,632.112 for Russell and 3,345.51 for Stoxx
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| Downside thresholds: | 2,019.899 for S&P, 1,142.4784 for Russell and 2,341.857 for Stoxx, 70% of initial levels
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 11
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.425%
|
| Cusip: | 40056E5V6
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