Published on 6/14/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.33 million 10.45% contingent coupon autocalls tied to three stocks
By Susanna Moon
Chicago, June 14 – GS Finance Corp. priced $1.33 million of autocallable contingent coupon notes due June 15, 2021 linked to the least performing of the common stocks of salesforce.com, inc., JPMorgan Chase & Co. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.45% if each underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stocks: | salesforce.com, inc. (Symbol: CRM), Amazon.com, Inc. (Symbol: AMZN) and JPMorgan Chase & Co. (Symbol: JPM)
|
| Amount: | $1,332,000
|
| Maturity: | June 15, 2021
|
| Coupon: | 10.45% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes below 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above its initial level on any quarterly call review date from December 2018 through March 2021
|
| Initial levels: | $111.11 for JPMorgan, $133.53 for salesforce.com and $1,683.99 for Amazon
|
| Trigger levels: | 60% of initial levels
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| Pricing date: | June 8
|
| Settlement date: | June 15
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40055QDY5
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