Published on 8/2/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $3.12 million 9.85% contingent coupon callables on Stoxx, Russell, Nasdaq
By Susanna Moon
Chicago, Aug. 2 – GS Finance Corp. priced $3.12 million of callable contingent coupon notes due July 31, 2028 linked to the lesser performing of the Nasdaq-100 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.85% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any review date after six months.
The payout at maturity will be par unless any index closes below its 60% trigger level, 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: | Nasdaq-100, Euro Stoxx 50, Russell 2000
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Amount: | $3,122,000
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Maturity: | July 31, 2028
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Coupon: | 9.85% annualized, payable quarterly if each index 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 index finishes at or above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call option: | At par on any quarterly call review date from January 2019 through April 2028
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Initial levels: | 1,663.34 for Russell, 7,296.781 for Nasdaq and 3,527.18 for Stoxx
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Trigger levels: | 60% of initial levels
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Pricing date: | July 27
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Settlement date: | July 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.7%
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Cusip: | 40055QKR2
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