Published on 7/3/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.53 million autocallable buffered notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 3 – GS Finance Corp. priced $7.53 million of 0% autocallable buffered index-linked notes due July 2, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized call premium of 15% if the index closes at or above 94% of the initial index level on any semiannual call date after one year.
If the notes are not called and the index return is at least equal to 94% of the initial level, the payout at maturity will be par plus 50%. Investors will receive par if the index falls by more than 6% but not more than 20% and will lose 1.25% for each 1% loss beyond 20%.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor | Goldman Sachs Group, Inc.
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Issue: | Autocallable buffered index-linked notes
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Underlying index: | Euro Stoxx 50
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Amount: | $7,525,000
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Maturity: | July 2, 2024
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is at least equal to 94% of initial level, $1,500 per each $1,000 note; if index falls by more than 6% but not more than 20%, par; 1.25% loss for each 1% decline beyond 20%
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Call: | Par plus annualized call premium of 10% if the index closes at or above 94% of initial index level on any semiannual observation date after one year
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Initial level: | 3,442.38
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Pricing date: | June 27
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Settlement date: | July 2
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Agent: | Goldman Sachs & Co.
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Fees: | 0.35%
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Cusip: | 40056FS63
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