Published on 8/21/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3 million trigger autocallable notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – GS Finance Corp. priced $3 million of 0% trigger autocallable notes due Aug. 18, 2026 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning in August 2019, the notes will be automatically called at par of $10 plus a call return of 13% a year if the index closes at or above its initial level on any annual call observation date.
The payout will be par plus 104% if the index finishes positive or declines by up to 20%. Otherwise, investors will have full exposure to the decline.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable notes
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| Underlying index: | Euro Stoxx 50
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| Amount: | $3 million
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| Maturity: | Aug. 18, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | Beginning in August 2019, at par plus 13% per year if index closes at or above initial level on any annual call observation date
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| Payout at maturity: | Par if the index finishes positive or declines by up to 20%, par plus 104%; otherwise, full exposure to decline
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| Initial levels: | 3,409.68
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| Downside threshold: | 2,727.74, 80% of initial level
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 16
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| Agents: | Goldman Sachs & Co.
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| Fees: | 2.15%
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| Cusip: | 36255U638
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