Published on 2/16/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $916,000 contingent coupon autocalls on two indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – GS Finance Corp. priced $916,000 of autocallable contingent coupon notes due Aug. 18, 2025 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6% if each index closes at or above its 80% coupon barrier on the review date for that month.
The notes will be called at par if each index closes at or above its initial level on any call observation date after one year.
The payout at maturity will be par unless either index finishes below its 80% trigger level, in which case investors will be 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | Russell 2000 index, S&P 500 index
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| Amount: | $916,000
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| Maturity: | Aug. 18, 2025
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| Coupon: | 6% annualized, payable monthly if each index closes at or above 80% coupon barrier on review date for that month
|
| Price: | Par
|
| Call: | At par if each index closes at or above its initial level on any interest payment date beginning in February 2019
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| Payout at maturity: | Par unless either index finishes below its 80% trigger, in which case 1% loss per 1% decline of worse performing index
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| Initial index levels: | 1,477.836 for Russell, 3,325.99 for Stoxx
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| Coupon barrier/triggers: | 1,182.2688 for Russell, 2,660.792 for Stoxx, 80% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 5.15%
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| Cusip: | 40055AJX6
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