Published on 4/27/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $974,000 6.05% contingent coupon autocalls on indexes
By Susanna Moon
Chicago, April 27 – GS Finance Corp. priced $974,000 of autocallable contingent coupon notes due April 27, 2026 linked to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.05% if each index closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either index closes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | Dow Jones industrial average and S&P 500
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Amount: | $974,000
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Maturity: | April 27, 2026
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Coupon: | 6.05% annualized, payable monthly if each index closes at or above 75% coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | If each index finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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Call: | At par if each index closes at or above its initial level on any quarterly call review date from April 2019 through January 2026
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Initial levels: | 24,462.94 for Dow and 2,670.14 for S&P
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Coupon barriers: | 18,347.205 for Dow and 2,002.605 for S&P, 75% of initial levels
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Trigger levels: | 60% of initial levels
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Pricing date: | April 20
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Settlement date: | April 27
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.4%
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Cusip: | 40055AY68
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