Published on 10/1/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $7.89 million 9% contingent yield trigger callables on S&P, Russell, Stoxx
By Susanna Moon
Chicago, Oct. 1 – GS Finance Corp. priced $7.89 million of trigger callable contingent yield notes due March 24, 2022 linked to the least 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 pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $7,893,000
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| Maturity: | March 24, 2022
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| Coupon: | 9% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Call option: | At par on any interest payment date
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| Payout at maturity: | If each index finishes at or above 60% trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
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| Initial levels: | 2,929.67 for S&P, 1,712.316 for Russell and 3,430.81 for Stoxx
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| Coupon barriers: | 2,050.769 for S&P, 1,198.621 for Russell and 2,401.567 for Stoxx, 70% of initial levels
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| Downside thresholds: | 1,757.802 for S&P, 1,027.39 for Russell and 2,058.486 for Stoxx, 60% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 36256M130
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