Published on 7/18/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $917,000 trigger step securities due 2022 on Stoxx 50
By Sarah Lizee
Olympia, Wash., July 18 – GS Finance Corp. priced $917,000 of 0% trigger step securities due July 18, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the index return and 76%.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% downside threshold level.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger step securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $917,000
|
| Maturity: | July 18, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index gains or finishes flat, par plus greater of 76% and return; par if index falls by 30% or less; full exposure to losses if index finishes below downside threshold level
|
| Initial index level: | 3,454.54
|
| Downside threshold: | 2,418.18, 70% of initial level
|
| Pricing date: | July 13
|
| Settlement date: | July 18
|
| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 0.3%
|
| Cusip: | 36255U380
|
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