Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $218,000 contingent coupon autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, June 6 – GS Finance Corp. priced $218,000 of autocallable contingent coupon index-linked notes due June 6, 2028 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 7.15% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below 50% of its initial level, in which case investors will be fully exposed to any losses of the lesser-performing index.
The notes are guaranteed by 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 index-linked notes
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $218,000
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| Maturity: | June 6, 2028
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| Coupon: | 7.15% per year, payable quarterly if each index closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 50% of initial level, in which case full exposure to any losses of the least-performing index
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| Call: | At par if each index closes above initial level on any quarterly call observation date after a year
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| Initial levels: | 1,623.649 for Russell, 2,689.86 for S&P and 3,428.14 for Stoxx
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| Barrier levels: | 1,136.5543 for Russell, 1,882.902 for S&P and 2,399.689 for Stoxx; 70% of initial levels
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| Pricing date: | May 29
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| Settlement date: | May 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 5.45%
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| Cusip: | 40055Q4E9
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