Published on 8/27/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.15 million 5.27% yield trigger callables tied to S&P, Russell, Stoxx
By Susanna Moon
Chicago, Aug. 27 – GS Finance Corp. priced $4.15 million of 5.27% trigger callable yield notes due Feb. 22, 2021 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.
Interest is payable quarterly.
The notes are callable on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 55% 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.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger callable yield notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $4.15 million
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Maturity: | Feb. 22, 2021
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Coupon: | 5.27%, payable quarterly
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worst performing index
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Call option: | At par on each quarterly observation date beginning Feb. 21, 2019
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Initial levels: | 2,840.69 for S&P, 1,685.752 for Russell and 3,377.56 for Stoxx, set on Aug. 16
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Downside thresholds: | 1,562.38 for S&P, 927.164 for Russell and 1,857.658 for Stoxx, 55% of initial levels
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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Fees: | 1.425%
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Cusip: | 36255U653
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