Published on 3/1/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.61 million contingent coupon autocalls on two indexes
By Wendy Van Sickle
Columbus, Ohio, March 1 – GS Finance Corp. priced $4.61 million of autocallable contingent coupon notes due March 1, 2028 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.25% if each index closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing index.
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: | Russell 2000 index, S&P 500 index
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Amount: | $4,611,000
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Maturity: | March 1, 2028
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Coupon: | 5.25% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Call: | At par if each index closes at or above its initial level on any interest payment date beginning in February 2019
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Payout at maturity: | Par unless either index finishes below its 60% trigger, in which case 1% loss per 1% decline of worse performing index
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Initial index levels: | 1,549.186 for Russell, 2,747.30 for S&P
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Coupon barrier/triggers: | 929.5116 for Russell, 1,648.38 for S&P, 60% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.95%
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Cusip: | 40055AJW8
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