Published on 6/15/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.08 million autocallables on GS Momentum Builder
By Sarah Lizee
Olympia, Wash., June 15 – GS Finance Corp. priced $1.08 million of 0% autocallable notes due June 26, 2025 linked to the GS Momentum Builder Multi-Asset 5S ER index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the closing level of the index is greater than the call level on any call observation date the notes will be automatically called at par plus the call return of 8.75% per year. The call level is 102.25% of its initial level on June 12, 2019, 104.5% of its initial level on June 12, 2020, 106.75% of its initial level on June 14, 2021, 109% of its initial level on June 13, 2022, 111.25% of its initial level on June 12, 2023 and 113.5% of its initial level on June 12, 2024.
At maturity, the payout will be par plus any index gain or par if the index declines or finishes flat.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable notes
|
| Underlying index: | GS Momentum Builder Multi-Asset 5S ER index
|
| Amount: | $1,079,000
|
| Maturity: | June 26, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain; otherwise, par
|
| Call: | At par plus an annual call premium of 8.75% if the index closes at or above its call level on any annual review date
|
| Initial index level: | 105.66
|
| Call level: | 102.25% of its initial level on June 12, 2019, 104.5% of its initial level on June 12, 2020, 106.75% of its initial level on June 14, 2021, 109% of its initial level on June 13, 2022, 111.25% of its initial level on June 12, 2023, 113.5% of its initial level on June 12, 2024
|
| Pricing date: | June 12
|
| Settlement date: | June 15
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 5.06%
|
| Cusip: | 40055QAS1
|
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