Published on 8/23/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $39,000 more 8% contingent income autocalls tied to Citigroup
By Susanna Moon
Chicago, Aug. 23 – GS Finance Corp. priced another $39,000 of contingent income autocallable securities due Jan. 16, 2020 linked to Citigroup Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue size to $15,799,110, up from $15,760,110 at pricing on Jan. 12
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above the 80% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.
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: | Contingent income autocallable securities
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| Underlying stock: | Citigroup Inc. (Symbol: C)
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| Amount: | $15,799,110, up from $15,760,110
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| Maturity: | Jan. 16, 2020
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| Coupon: | 8% annualized, payable each quarter if stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date beginning Jan. 28, 2018
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| Initial share price: | $76.84
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| Downside threshold: | $61.472, 80% of initial level
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| Pricing date: | Aug. 16 for add-on, Jan. 12 for original issue
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| Settlement date: | Aug. 20 for add-on, Jan. 18 for original issue
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.1% for add-on, 2.15% for original issue
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| Cusip: | 36254F699
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