Published on 7/9/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $620,000 of 0% autocalls due 2022 tied to Russell, funds
By Susanna Moon
Chicago, July 9 – GS Finance Corp. priced $620,000 of 0% autocallable notes due April 4, 2022 linked to the least performing of the Russell 2000 index, the SPDR S&P MidCap 400 ETF Trust and the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 8.75% if each underlying asset closes at or above its initial level on any call observation date after six months.
If each asset finishes at or above its initial level, the payout at maturity will be $1,328.14 for each $1,000 principal amount.
If any underlying asset falls by up to its 70% downside threshold, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index or fund.
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 notes
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| Underlying assets: | Russell 2000 index, the SPDR S&P MidCap 400 ETF Trust and the Invesco QQQ Trust, series 1
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| Amount: | $620,000
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| Maturity: | April 4, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 8.75% annualized if each asset closes at or above its initial level on any monthly review date beginning Dec. 28, 2018
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| Payout at maturity: | If each asset gains, par plus 32.814%; if any asset falls by up 30%, par; otherwise, 1% loss for each 1% decline of worst performing index or fund
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| Initial levels: | 1,645.017 for Russell, $354.60 for midcap fund and $171.19 for Invesco fund
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| Trigger levels: | 70% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 40055QHX3
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