Published on 3/16/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $272,000 7.5% contingent coupon autocalls tied to indexes
By Susanna Moon
Chicago, March 15 – GS Finance Corp. priced $272,000 of autocallable contingent coupon notes due Sept. 10, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% 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 each index closes at or above its initial level on any review date.
The payout at maturity will be par unless either index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse 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 assets: | Russell 2000 and S&P 500
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| Amount: | $272,000
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| Maturity: | Sept. 10, 2019
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| Coupon: | 7.5% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index ever closes below 70% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any review date from August 2018 through May 2019
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| Initial levels: | 1,512.446 for Russell, 2,713.83 for S&P
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| Trigger levels: | 1,058.7122 for Russell, 1,899.681 for S&P, 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.82%
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| Cusip: | 40055AJ65
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