Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $540,000 callable contingent coupon notes on Russell, Nasdaq
By Sarah Lizee
Olympia, Wash., Dec. 26 – GS Finance Corp. priced $540,000 of callable contingent coupon notes due Dec. 27, 2028 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon at an annual rate of 9.5% if each index closes at or above 75% of its initial level on any observation date.
The notes are callable at par on any coupon payment date beginning in March 2019.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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Amount: | $540,000
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Maturity: | Dec. 27, 2028
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Coupon: | 9.5% annualized, payable each quarter if each index closes at or above 75% of its initial level on any determination date
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Price: | Par
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Payout at maturity: | Par plus final coupon, if any, unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index
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Call option: | At par on any coupon payment date beginning March 2019
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Initial levels: | 6,046.557 for Nasdaq, 1,292.086 for Russell
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.45%
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Cusip: | 40056ELU0
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