Published on 8/9/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.79 million 7.4% contingent coupon callables on three indexes
By Susanna Moon
Chicago, Aug. 9 – GS Finance Corp. priced $2.79 million of callable contingent coupon notes due Feb. 3, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 7.4% if each index closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any index closes below its 65% trigger level, 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: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $2,787,000
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| Maturity: | Feb. 3, 2022
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| Coupon: | 7.4% annualized, payable quarterly if each index closes at or above 65% 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 65% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call option: | At par on any interest payment date from November 2018 through November 2021
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| Initial levels: | 2,816.29 for S&P, 1,670.805 for Russell and 3,525.49 for Stoxx
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| Downside thresholds: | 65% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2%
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| Cusip: | 40055QQ88
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