Published on 8/2/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.03 million 5.6% contingent coupon callables tied to S&P, Russell
By Susanna Moon
Chicago, Aug. 2 – GS Finance Corp. priced $2.03 million of callable contingent coupon notes due July 31, 2023 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 5.6% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable on any review date after one year.
The payout at maturity will be par unless either index falls by more than 40%, 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.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $2,029,000
|
Maturity: | July 31, 2023
|
Coupon: | 5.6% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | If each index falls by up to 40%, par; otherwise, 1% loss for each 1% decline of worse performing index
|
Call option: | At par on any call review date from July 2019 through April 2023
|
Initial levels: | 2,837.44 for S&P, 1,695.36 for Russell
|
Trigger levels: | 60% of initial levels
|
Pricing date: | July 26
|
Settlement date: | July 31
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 5.27%
|
Cusip: | 40055QHE5
|
|
|
© 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.