Published on 11/16/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $345,000 autocallable index-linked notes on S&P, Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – GS Finance Corp. priced $345,000 of 0% autocallable index-linked notes due Nov. 20, 2023 tied to 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 are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus an 8.75% annualized premium if each index closes at or above its initial index level on any annual call observation date.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus 43.75%.
If any index falls by up to 35%, the payout at maturity will be par.
If any index falls by more than 35%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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| Amount: | $345,000
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| Maturity: | Nov. 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 43.75%; if any index falls by up to 35%, par; if any index falls by more than 35%, par plus return of least-performing index, with full exposure to losses
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| Call: | At par plus 8.75% annualized if each index closes at or above its initial level on any annual call observation date
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| Initial index levels: | 2,722.18 for S&P 500 and 1,514.802 for Russell 2000, 25,286.49 for Dow
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 16
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.725%
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| Cusip: | 40056ECM8
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