Published on 5/15/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $7.9 million step down trigger autocalls on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, May 15 – GS Finance Corp. priced $7.9 million of 0% step down trigger autocallable notes due May 15, 2023 linked to the least performing of the Nasdaq-100 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 be called at par plus an annual call premium of 8.35% if each index closes at or above its initial level on any call observation date after one year.
If each index finishes at or above 65% downside threshold, the payout at maturity will be $14.175 for each $10.00 principal amount.
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 underwriter with UBS Financial Services Inc. selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
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| Amount: | $7.9 million
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| Maturity: | May 15, 2023
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 41.75% unless any index falls by more than 35%, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par plus 8.35% per year if each index closes at or above its initial level on any annual review date beginning May 21, 2019
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| Initial levels: | 6,963.548 for Nasdaq, 1,603.713 for Russell and 2,723.07 for S&P
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| Downside thresholds: | 4,526.306 for Nasdaq, 1,042.414 for Russell and 1,769.996 for S&P, 65% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 15
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| Agent: | Goldman Sachs & Co. LLC with UBS Financial Services Inc.
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| Fees: | 2.85%
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| Cusip: | 36254G622
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