Published on 11/12/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $430,000 9.02% contingent yield trigger autocalls on Russell, Nikkei
By Susanna Moon
Chicago, Nov. 12 – GS Finance Corp. priced $430,000 of trigger autocallable contingent yield notes due Oct. 31, 2023 linked to the lesser performing of the Russell 2000 index and the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 9.02% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 index and Nikkei 225 index
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| Amount: | $430,000
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| Maturity: | Oct. 31, 2023
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| Coupon: | 9.02% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Call: | At par if index closes at or above its initial level on each quarterly observation date beginning October 2019
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worse performing index
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| Initial levels: | 1,477.306 for Russell and 21,149.80 for Nikkei
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| Downside thresholds: | 1,034.114 for Russell and 14,804.86 for Nikkei, 70% of initial levels
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| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 36256M452
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