Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $555,000 contingent coupon autocallables linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – GS Finance Corp. priced $555,000 of autocallable contingent coupon notes due Aug. 8, 2022 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.1% if each index closes at or above its coupon trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning in July 2020, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless any index finishes below its trigger level, 60% of its initial level, in which case investors will be exposed to the decline of the least-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| 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, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $555,000
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| Maturity: | Aug. 8, 2022
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| Coupon: | 6.1%, payable quarterly if each index closes at or above coupon trigger level, 70% of initial level, on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, 60% of initial level, in which case exposure to decline of least-performing index
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| Call: | Beginning in July 2020, automatically at par if each index closes at or above initial level on any coupon determination date
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| Initial levels: | 7,952.473 for Nasdaq-100, 1,585.599 for Russell 2000 and 27,198.02 for Dow Jones industrial average
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| Pricing date: | July 30
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| Settlement date: | Aug. 2
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40056FWF8
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