Published on 11/13/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2 million trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Nov. 13 – GS Finance Corp. priced $2 million of trigger callable contingent yield notes due Nov. 14, 2022 linked to the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date that quarter.
The notes will be callable at par plus any coupon due on any quarterly observation date.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below the downside threshold level, 55% of its initial level, in which case investors will lose 1% for every 1% loss of the worst performing index from its initial level.
Goldman Sachs & Co. is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50 and S&P 500
|
| Amount: | $2 million
|
| Maturity: | Nov. 14, 2022
|
| Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier on observation date that quarter
|
| Price: | Par
|
| Call option: | At par plus any coupon on any quarterly observation date
|
| Payout at maturity: | Par plus final coupon, if any, unless any index closes below 55% downside threshold level, in which case will lose 1% for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 2,813.89 for S&P, 1,582.159 for Russell, 3,246.16 for Stoxx
|
| Coupon barriers: | 1,688.334 for S&P, 949.295 for Russell, 1,947.696 for Stoxx; 60% of initial levels
|
| Downside thresholds: | 1,547.640 for S&P, 870.187 for Russell, 1,785.388 for Stoxx; 55% of initial levels
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Agent: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
| Fees: | 1.3%
|
| Cusip: | 36256M593
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
