Published on 10/22/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $625,000 callable contingent coupon notes on Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 22 – GS Finance Corp. priced $625,000 of callable contingent coupon notes due Oct. 16, 2023 linked to the Dow Jones industrial average, 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 quarterly coupon at an annual rate of 5.65% if each index closes at or above 60% 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 unless any index finishes below 60% 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.
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| 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, Dow Jones industrial average
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| Amount: | $625,000
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| Maturity: | Oct. 16, 2023
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| Coupon: | 5.65% annualized, payable each quarter if each index closes at or above 60% of its initial level on determination date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below 60% 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 after one year
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| Initial levels: | 1,545.38 for Russell, 2,728.27 for S&P and 3,209.19 for 25,052.83 for Dow
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 16
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.975%
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| Cusip: | 40056EAF5
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