Published on 9/24/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $365,000 contingent coupon autocalls tied to Dow, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – GS Finance Corp. priced $365,000 of autocallable contingent coupon notes due March 23, 2020 linked to the least performing of the S&P 500 index, the Dow Jones industrial average 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 5.25% if each index closes at or above its 70% 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 six months.
The payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst 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, Russell 2000, S&P 500
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| Amount: | $365,000
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| Maturity: | March 23, 2020
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| Coupon: | 5.25% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its 70% trigger level, in which case 1% loss for each 1% decline of worst 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 after six months
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| Initial levels: | 2,904.98 for S&P, 1,721.719 for Russell and 26,154.67 for Dow
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.525%
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| Cusip: | 40055QVW9
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