Published on 5/4/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.52 million contingent coupon autocalls tied to S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, May 4 – GS Finance Corp. priced $4.52 million of autocallable contingent coupon notes due Nov. 1, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 7.7% 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 after six months.
The payout at maturity will be par unless either index closes below its 70% downside threshold, 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 indexes: | Russell 2000 and S&P 500
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Amount: | $4,517,000
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Maturity: | Nov. 1, 2019
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Coupon: | 7.7% 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: | If each index finishes at or above 70% downside threshold, par; otherwise, 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 quarterly call review date from October 2018 through July 2019
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Initial levels: | 1,550.467 for Russell and 2,639.40 for S&P
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Trigger levels: | 1,085.3269 for Russell and 1,847.58 for S&P, 70% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.52%
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Cusip: | 40055AWN3
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