Published on 5/17/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $155,000 contingent coupon autocalls on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 17 – GS Finance Corp. priced $155,000 of autocallable contingent coupon notes due Nov. 21, 2019 linked to the lesser performing of the Euro Stoxx 50 index, 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 9.5% if each index closes at or above its 70% coupon barrier on the observation 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 six months.
The payout at maturity will be par unless any index finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst 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 indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $155,000
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Maturity: | Nov. 21, 2019
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Coupon: | 9.5% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above initial level and never dips below 70% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call: | At par if each index closes at or above its initial level on any quarterly call review date after six months
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Initial levels: | 3,565.74 for Stoxx, 1,600.344 for Russell and 2,730.13 for S&P
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Trigger levels: | 2,496.018 for Stoxx, 1,120.2408 for Russell and 1,911.091 for S&P, 70% of initial levels
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Pricing date: | May 14
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Settlement date: | May 17
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.65%
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Cusip: | 40055AZ59
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