Published on 2/21/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $426,000 contingent coupon autocalls on three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – GS Finance Corp. priced $426,000 of autocallable contingent coupon notes due Aug. 21, 2019 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 will pay a contingent quarterly coupon at an annual rate of 9.5% if each index closes at or above its 70% coupon barrier on the review 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 beginning in August 2018.
The payout at maturity will be par unless any index finishes below its initial level and any index closes below 70% trigger level any day during the life of the notes, in which case investors will be 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: | Autocallable contingent coupon notes
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Underlying assets: | Euro Stoxx 50 index, Russell 2000 index, S&P 500 index
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Amount: | $426,000
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Maturity: | Aug. 21, 2019
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Coupon: | 9.5% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Call: | At par if each index closes at or above its initial level on any interest payment date beginning in August 2018
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Payout at maturity: | Par unless any index finishes below initial level and any index closes below 70% of initial level any day during life of notes, in which case 1% loss per 1% decline of worst performing index
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Initial index levels: | 3,340.93 for Stoxx, 1,494.95 for Russell, 2,662.94 for S&P
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Pricing date: | Feb. 13
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Settlement date: | Feb. 16
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.525%
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Cusip: | 40055AGV3
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