Published on 7/12/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.73 million digital notes linked to three stocks
By Sarah Lizee
Olympia, Wash., July 12 – GS Finance Corp. priced $1.73 million of digital equity-linked notes due July 17, 2019 linked to the common stocks of Macy’s, Inc., Amazon.com, Inc. and Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If all three stocks finish at or above 70% of their initial levels, the payout at maturity will be the maximum settlement amount of $1,270 for each $1,000 of notes.
Otherwise, investors will lose 1% for every 1% decline of the worst-performing stock from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Digital equity-linked notes
|
| Underlying stocks: | Macy’s, Inc., Amazon.com, Inc. and Celgene Corp.
|
| Amount: | $1,725,000
|
| Maturity: | July 17, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all three stocks finish at or above 70% of their initial levels, $1,270 for each $1,000 of notes; otherwise, 1% loss for every 1% decline of the worst-performing stock from its initial level
|
| Initial levels: | $36.46 for Macy’s, $1,739.02 for Amazon.com and $83.85 for Celgene
|
| Pricing date: | July 10
|
| Settlement date: | July 17
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.1%
|
| Cusip: | 40055QMH2
|
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