Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.43 million 5.75% contingent coupon autocalls on Stoxx, Russell
By Susanna Moon
Chicago, Oct. 17 – GS Finance Corp. priced $1.43 million of autocallable contingent coupon notes due Oct. 2, 2028 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 5.75% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either index closes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse 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: | Autocallable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $1,432,000
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| Maturity: | Oct. 2, 2028
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| Coupon: | 5.75% annualized, payable quarterly if each index closes at or above 60% 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 60% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call review date beginning September 2019
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| Initial levels: | 1,708.805 for Russell, 3,419.78 for Stoxx
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| Trigger levels: | 1,025.283 for Russell, 2,051.868 for Stoxx, 60% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.95%
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| Cusip: | 40055QYK2
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