Published on 4/25/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $24.93 million contingent coupon autocalls on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 25 – GS Finance Corp. priced $24.93 million of autocallable contingent coupon notes due Oct. 30, 2025 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annual rate of 7.25% if each underlier closes at or above 80% of its initial level on the related observation date.
The notes will be automatically called at par if each underlier closes at or above its initial level on any observation date after a year.
The payout at maturity will be par plus the final coupon unless either underlier finishes below 80% of its initial level, in which case the payout will be par plus the return of the worse performing underlier with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $24,931,000
|
| Maturity: | Oct. 30, 2025
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| Coupon: | 7.25%, payable each month that each underlier closes at or above coupon trigger level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either underlier finishes below 80% of its initial level, in which case par plus the return of the worse performing underlier with full exposure to losses
|
| Call: | At par if each underlier closes above initial level on any observation date after one year
|
| Initial levels: | 2,670.29for S&P and 3,513.06 for Stoxx
|
| Coupon trigger levels: | 1,823.50 for S&P and 1,059.1217 for Stoxx; 80% of initial levels
|
| Pricing date: | April 23
|
| Settlement date: | April 26
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 5.15%
|
| Cusip: | 40055AY84
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