Published on 7/11/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 11 – GS Finance Corp. priced $500,000 of callable contingent coupon notes due July 12, 2023 linked to the Dow Jones industrial average, the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon of 5.2% per annum if each index closes at or above its 60% coupon trigger level on the determination date for that period.
The notes will be callable at par on any determination date.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below 50% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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| Amount: | $500,000
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| Maturity: | July 12, 2023
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| Contingent coupon: | 5.2% annualized, payable semiannually if each index closes at or above 70% coupon trigger level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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| Call option: | At par on any determination date
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| Initial index levels: | 2,990.41 for S&P, 26,922.12 for Dow and 1,575.625 for Russell
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| Pricing date: | July 5
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| Settlement date: | July 12
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 40056FSP1
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