Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.48 million 7.4% contingent coupon autocalls tied to Stoxx, EM fund
By Susanna Moon
Chicago, June 6 – GS Finance Corp. priced $1.48 million of autocallable contingent coupon notes due June 3, 2022 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.4% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either asset closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index or fund.
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: | Euro Stoxx 50, iShares® MSCI Emerging Markets ETF
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| Amount: | $1,483,000
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| Maturity: | June 3, 2022
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| Coupon: | 7.4% annualized, payable quarterly if each asset 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: | If each asset finishes at or above 70% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index or fund
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| Call: | At par if each asset closes at or above its initial level on any quarterly call review date
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| Initial levels: | 3,428.14 for Stoxx, $45.35 for fund
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| Trigger levels: | 2,399.698 for Stoxx, $31.745 for fund, 70% of initial levels
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| Pricing date: | May 29
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| Settlement date: | May 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.05%
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| Cusip: | 40055Q6W7
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