Published on 8/7/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $567,000 contingent coupon autocalls on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – GS Finance Corp. priced $567,000 of autocallable contingent coupon notes due Aug. 7, 2028 linked to the lesser performing of 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 contingent quarterly coupon at an annual rate of 6% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
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% trigger level, 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.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Autocallable contingent coupon notes
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $567,000
|
Maturity: | Aug. 7, 2028
|
Coupon: | 6% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index
|
Call: | At par if each index closes at or above its initial level on any quarterly call review date after a year
|
Initial levels: | 1,653.132 for Russell, 2,802.60 for S&P 500
|
Coupon barriers: | 1,164.338 for Russell, 1,973.174 for S&P, 75% of initial levels
|
Trigger levels: | 60% of initial levels
|
Pricing date: | July 30
|
Settlement date: | Aug. 2
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 4.45%
|
Cusip: | 40055QQA3
|
|
© 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.