Published on 8/3/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.72 million 0% five-year autocalls tied to Nasdaq, Russell
By Susanna Moon
Chicago, Aug. 3 – GS Finance Corp. priced $1.72 million of 0% autocallable notes due Aug. 3, 2023 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 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 9.5% 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 its initial level, the payout at maturity will be $1,475 for each $1,000 principal amount.
If either index falls by up to its 60% downside threshold, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
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 notes
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Underlying indexes: | Nasdaq-100, Russell 2000
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Amount: | $1,046,000
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Maturity: | Aug. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 47.5%; if either index falls by up 40%, par; otherwise, 1% loss for each 1% decline of worse performing index
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Call: | At par plus 9.5% per year if each index closes at or above its initial level on any annual review date beginning July 29, 2019
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Initial levels: | 7,296.781 for Nasdaq, 1,663.34 for Russell
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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: | 1.775%
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Cusip: | 40055QN57
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