Published on 3/20/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2 million callable contingent coupon notes on S&P, Stoxx, Russell
By Sarah Lizee
Olympia, Wash., March 20 – GS Finance Corp. priced $2 million of callable contingent coupon notes due March 18, 2026 linked to 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 monthly coupon of 20.1% per annum if each index closes at or above its 80% coupon trigger level on the observation date for that month.
The notes will be callable at par on any quarterly call date.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below 70% 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 underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
|
| Amount: | $2 million
|
| Maturity: | March 18, 2026
|
| Contingent coupon: | 20.1% annualized, payable monthly if each index closes at or above coupon trigger level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, if any, unless any index finishes below trigger buffer level, in which case full exposure to decline of least performing index
|
| Call option: | At par plus any contingent coupon on any quarterly call date
|
| Initial index levels: | 2,586.02 for Stoxx, 1,210.135 for Russell and 2,711.02 for S&P
|
| Coupon trigger levels: | 80% of initial levels
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.375%
|
| Cusip: | 40056YT61
|
|
|
© 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.
