Published on 4/17/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $291,000 contingent coupon autocalls on S&P, Russell
By Marisa Wong
Morgantown, W.Va., April 17 – GS Finance Corp. priced $291,000 of autocallable contingent coupon notes due Oct. 7, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon at an annual rate of 8.75% if each underlier closes at or above 70% of its initial level on the related quarterly observation date.
The notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either underlier finishes below its initial level and either underlier closes below its 70% trigger level on any day during the life of the notes, in which case the payout will be par plus the return of the worse performing underlier with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index
|
| Amount: | $291,000
|
| Maturity: | Oct. 7, 2019
|
| Coupon: | 8.75%, payable each quarter that each underlier closes at or above coupon trigger level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either underlier finishes below its initial level and either underlier closes below its trigger level on any day during the life of the notes, in which case par plus the return of the worse performing underlier with full exposure to losses
|
| Call: | At par if each underlier closes above initial level on any quarterly observation date after six months
|
| Initial levels: | 2,605.00 for S&P and 1,513.031 for Russell
|
| Coupon trigger levels: | 1,823.50 for S&P and 1,059.1217 for Russell; 70% of initial levels
|
| Trigger levels: | 1,823.50 for S&P and 1,059.1217 for Russell; 70% of initial levels
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.8%
|
| Cusip: | 40055AQF7
|
|
|
|
|
© 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.
