Published on 10/31/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.32 million contingent coupon autocalls on Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – GS Finance Corp. priced $4.32 million of autocallable contingent coupon notes due May 4, 2026 linked to the least performing of the S&P 500 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each index closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless any index ever finishes below its 80% 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: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50
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| Amount: | $4,321,000
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| Maturity: | May 4, 2026
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| Coupon: | 7% annualized, payable monthly if each index closes at or above 80% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its 80% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any monthly call review date after one year
|
| Initial levels: | 2,705.57 for S&P and 3,164.4 for Stoxx
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| Coupon barriers: | 2,164.456 for S&P and 2,531.52 for Stoxx, 80% of initial levels
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| Trigger levels: | 2,164.456 for S&P and 2,531.52 for Stoxx, 80% of initial levels
|
| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.9%
|
| Cusip: | 40056EB23
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