Published on 7/9/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $731,000 12.45% contingent coupon autocalls on three stocks
By Susanna Moon
Chicago, July 9 – GS Finance Corp. priced $731,000 of autocallable contingent coupon notes due July 6, 2022 linked to the least performing of the common stocks of Dollar Tree, Inc., Home Depot, Inc. and United Rentals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.45% if each underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Dollar Tree, Inc. (Symbol: DLTR), Home Depot, Inc. (Symbol: HD) and United Rentals, Inc. (Symbol: URI)
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| Amount: | $731,000
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| Maturity: | July 6, 2022
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| Coupon: | 12.45% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes below 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each stock closes at or above its initial level on any quarterly call review date from November 2018 through February 2020
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| Initial levels: | $85.01 for Dollar Tree, $195.21 for Home Depot and $147.47 for United Rentals
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| Trigger levels: | 60% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.55%
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| Cusip: | 40055QGT3
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