Published on 8/9/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $9.05 million 9% contingent yield trigger autocalls tied to three indexes
By Susanna Moon
Chicago, Aug. 9 – GS Finance Corp. priced $9.05 million of trigger autocallable contingent yield notes due Feb. 3, 2022 linked to the least performing of 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 pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
The guarantor is Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $9,046,000
|
| Maturity: | Feb. 3, 2022
|
| Coupon: | 9% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on each quarterly observation date beginning Nov. 2, 2018
|
| Initial levels: | 2,816.29 for S&P, 1,670.805 for Russell and 3,525.49 for Stoxx
|
| Coupon barriers: | 1,830.589 for S&P, 1,086.023 for Russell and 2,291.569 for Stoxx, 65% of initial levels
|
| Downside thresholds: | 1,689.774 for S&P, 1,002.483 for Russell and 2,115.294 for Stoxx, 60% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 3
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 36255U513
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
