Published on 3/16/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $2.82 million of jump autocallables tied to three indexes
By Susanna Moon
Chicago, March 15 – GS Finance Corp. priced $2.82 million of jump securities with autocallable feature due March 3, 2021 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 be called at par plus an annualized call premium of 15.7% if each index closes at or above its initial level on any review date after one year.
If each index finishes at or above its initial level, the payout at maturity will be par plus the premium of 47.1%.
If any index falls by up to its 75% downside threshold, the payout will be par.
Otherwise, 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 with Morgan Stanley Wealth Management as the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $5,172,000
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| Maturity: | March 3, 2021
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| Coupon: | 7.5% annualized, payable quarterly if index closes at or above 75% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 47.1%; if any index falls by up to 25%, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par plus 15.7% annualized if each index closes at or above its initial level on any quarterly call date beginning March 5, 2019
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| Initial levels: | 1,512.446 for Russell, 2,713.83 for S&P and 3,438.96 for Stoxx
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| Downside thresholds: | 1,134.3345 for Russell, 2,035.3725 for S&P and 2,579.22 for Stoxx, 75% of initial level
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.175%
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| Cusip: | 40055AN86
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