Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.17 million autocallable index-linked notes on indexes
By Sarah Lizee
Olympia, Wash., Aug. 8 – GS Finance Corp. priced $2.17 million of 0% autocallable index-linked notes due Aug. 11, 2025 tied to the S&P 500 index, the Dow Jones industrial average 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 be called at par plus a 11.55% annualized premium if each index closes at or above its call level on any annual call observation date. The call level will be 100% of each index’s initial level.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus 69.3%.
If any index falls by up to 30%, the payout at maturity will be par.
If any index falls by more than 30%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
|
| Amount: | $2,174,000
|
| Maturity: | Aug. 11, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 69.3%; if any index falls by up to 30%, par; if any index falls by more than 30%, par plus return of least-performing index, with full exposure to losses
|
| Call: | At par plus 11.55% annualized if each index closes at or above its call level on any annual call observation date; call level will be 100% of each index’s initial level
|
| Initial index levels: | 1,533.659 for Russell, 2,932.05 for S&P and 26,485.01 for Dow
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 9
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.375%
|
| Cusip: | 40056FV51
|
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