Published on 5/29/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.53 million 7.7% contingent yield trigger autocalls tied to two indexes
By Susanna Moon
Chicago, May 29 – GS Finance Corp. priced $4.53 million of rigger autocallable contingent yield notes due May 23, 2028 linked to the lesser performing of the MSCI Emerging Markets index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.7% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI Emerging Markets and Euro Stoxx 50
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| Amount: | $4,534,900
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| Maturity: | May 23, 2028
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| Coupon: | 7.7% 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 of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on each quarterly observation date beginning May 20, 2019
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| Initial levels: | 3,573.76 for Stoxx, 1,137.75 for EM
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| Coupon barriers: | 2,501.63 for Stoxx, 796.43 for EM, 70% of initial levels
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| Downside thresholds: | 1,786.88 for Stoxx, 568.88 for EM, 50% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 23
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 3.95%
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| Cusip: | 36254G648
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