Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.08 million 7.55% contingent coupon callables on indexes
By Susanna Moon
Chicago, March 21 – GS Finance Corp. priced $1.08 million of callable contingent coupon notes due March 9, 2023 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.55% if each index closes at or above its 60% coupon barrier on the observation date for that month.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any index closes below its 60% downside threshold, in which case 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.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $1,077,000
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| Maturity: | March 9, 2023
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| Coupon: | 7.55% annualized, payable monthly if each index closes at or above 60% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any interest payment date from March 2019 through December 2022
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| Initial levels: | 1,546.048 for Russell, 2,720.94 for S&P and 3,355.32 for Stoxx
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| Trigger levels: | 60% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 8
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.05%
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| Cusip: | 40055AQC4
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