Published on 7/25/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $55,000 contingent coupon autocalls on Micron, Nvidia
By Wendy Van Sickle
Columbus, Ohio, July 25 – GS Finance Corp. priced $55,000 of autocallable contingent coupon notes due July 19, 2021 linked to the lesser performing of the common stocks of Micron Technology, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.5% if each underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
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: | Autocallable contingent coupon notes
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| Underlying stocks: | Micron Technology, Inc. and Nvidia Corp.
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| Amount: | $55,000
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| Maturity: | July 19, 2021
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| Coupon: | 15.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing stock
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| Call: | At par if each stock closes at or above its initial level on any quarterly call review date after six months
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| Initial levels: | $55.45 for Micron, $251.23 for Nvidia
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| Trigger levels: | $33.27 for Micron, $150.738 for Nvidia, 60% of initial levels
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| Pricing date: | July 12
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| Settlement date: | July 17
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 40055QHQ8
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