Published on 4/30/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $102,000 9% fixed-coupon autocallables on indexes
By Tali Rackner
Minneapolis, April 30 – GS Finance Corp. priced $102,000 of 9% autocallable fixed-coupon notes due July 22, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
If each index closes above its initial level on any call observation date, the notes will be automatically called at par plus the coupon.
The payout at maturity will be par unless any falls or any index has closed below its 70% trigger level on any day during the life of the notes, in which case investors will be exposed to the performance of the least-performing index and will receive no more than par.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable fixed-coupon notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $102,000
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Maturity: | July 22, 2019
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Contingent payment: | 9%, payable monthly
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Price: | Par
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Call: | Automatically at par if each index finishes above its initial level on any call observation date
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Payout at maturity: | Par unless any index falls or any index has closed below 70% trigger level on any day during the life of the notes, in which case full exposure to losses of least-performing index
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Initial levels: | 2,663.99 for S&P, 1,557.326 for Russell, 3,443.97 for Stoxx
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Trigger buffer: | 30%
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Pricing date: | April 12
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Settlement date: | April 17
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.95%
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Cusip: | 40055ATP2
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