Published on 10/16/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $776,000 16.8% contingent coupon autocalls on three stocks
By Sarah Lizee
Olympia, Wash., Oct. 16 – GS Finance Corp. priced $776,000 of autocallable contingent coupon notes due Oct. 18, 2022 linked to the least performing of the common stocks of Amazon.com, Inc., Nvidia Corp. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16.8% if each underlying stock closes at or above its 65% coupon barrier on the observation date for that month.
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 any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. 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: | Amazon.com, Inc., Nvidia Corp. and Apple Inc.
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Amount: | $776,000
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Maturity: | Oct. 18, 2022
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Coupon: | 16.8% annualized, payable monthly if each stock closes at or above 65% coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | If each stock finishes at or above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing stock
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Call: | At par if each stock closes at or above its initial level on any monthly call review date after six months
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Initial levels: | $1,719.36 for Amazon, $235.13 for Nvidia, $214.45 for Apple
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Pricing date: | Oct. 11
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Settlement date: | Oct. 18
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Agent: | Goldman Sachs & Co.
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Fees: | 2.55%
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Cusip: | 40056EAU2
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