Published on 8/20/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $704,000 15% contingent coupon autocalls on three stocks
By Susanna Moon
Chicago, Aug. 20 – GS Finance Corp. priced $704,000 of autocallable contingent coupon notes due Aug. 17, 2022 linked to the least performing of the common stocks of American Airlines Group Inc., Amazon.com, Inc. and salesforce.com, 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 15% 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. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stocks: | American Airlines Group Inc. (Symbol: AAL), Amazon.com, Inc. (Symbol: AMZN) and salesforce.com, inc. (Symbol: CRM)
|
| Amount: | $704,000
|
| Maturity: | Aug. 17, 2022
|
| Coupon: | 15% annualized, payable monthly if each stock closes at or above 65% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes below 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each stock closes at or above its initial level on any quarterly call review date from February 2019 through May 2022
|
| Initial levels: | $37.26 for American, $1,886.30 for Amazon and $145.51 for salesforce
|
| Coupon barriers: | 65% of initial levels
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.55%
|
| Cusip: | 40055QSY9
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
