Published on 4/18/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.22 million step down trigger autocallables linked to Nasdaq, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., April 18 – GS Finance Corp. priced $6.22 million of 0% step down trigger autocallable notes due April 19, 2024 linked to the lesser performing of the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning April 16, 2020, the notes will be automatically called at par of $10 plus 9.35% per year if each index closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the final level of each index is greater than or equal to its downside threshold, 70% of its initial level, the payout at maturity will be par plus 46.75%. Otherwise, investors will be exposed to the decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Step down trigger autocallable notes
|
| Underlying indexes: | Nasdaq-100 and Euro Stoxx 50
|
| Amount: | $6,217,770
|
| Maturity: | April 19, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level of each index is greater than or equal to downside threshold, par plus 46.75%; otherwise, exposure to decline of lesser-performing index from initial level
|
| Call: | At par plus 9.35% per year if each index closes at or above initial level on any quarterly observation date beginning April 16, 2020
|
| Initial levels: | 7,654.731 for Nasdaq-100 and 3,463.36 for Euro Stoxx 50
|
| Downside thresholds: | 5,358.312 for Nasdaq-100 and 2,424.352 for Euro Stoxx 50, or 70% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 2.8%
|
| Cusip: | 36257D477
|
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