Published on 10/22/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.6 million callable contingent coupon notes on Russell, S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Oct. 22 – GS Finance Corp. priced $1.6 million of callable contingent coupon notes due Oct. 19, 2023 linked to 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 are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annual rate of 9.1% if each index closes at or above 65% of its initial level on the observation date.
The notes are callable at par on any coupon payment date beginning in April.
The payout at maturity will be par plus the final coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $1,595,000
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| Maturity: | Oct. 19, 2023
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| Coupon: | 9.1% annualized, payable each month if each index closes at or above 65% of its initial level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing index
|
| Call option: | At par on any coupon payment date beginning in April
|
| Initial levels: | 1,545.38 for Russell, 2,728.27 for S&P and 3,209.19 for Stoxx
|
| Pricing date: | Oct. 11
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| Settlement date: | Oct. 16
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.85%
|
| Cusip: | 40056EAX6
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