Published on 7/18/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $275,000 contingent coupon autocallables on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 18 – GS Finance Corp. priced $275,000 of autocallable contingent coupon index-linked notes due Oct. 19, 2020 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 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 quarterly coupon of 6.8% per annum if each index closes at or above its 70% coupon trigger level on the related quarterly determination date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its 70% trigger level during the life of the notes, in which case investors will lose 1% for every 1% decline of the least performing index.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Autocallable contingent coupon index-linked notes
|
Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
Amount: | $275,000
|
Maturity: | Oct. 19, 2020
|
Coupon: | 6.8% per year, payable each quarter that each index closes at or above its 70% coupon trigger level on the related quarterly determination date
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below initial level and ever closes below 70% trigger level, in which case 1% loss for every 1% decline of the least performing index
|
Call: | At par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date
|
Initial levels: | 1,557.921 for Russell, 2,999.91 for S&P, 3,496.73 for Stoxx
|
Pricing date: | July 11
|
Settlement date: | July 16
|
Underwriter: | Goldman Sachs & Co. LLC
|
Fees: | 2.225%
|
Cusip: | 40056FQD0
|
|
© 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.