Published on 11/19/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $20.78 trigger autocallable notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, Nov. 19 – GS Finance Corp. priced $20.78 million of 0% trigger autocallable notes due Nov. 20, 2024 linked to 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 in November 2020, the notes will be automatically called at par of $10 plus a call return of 10% a year if the index closes at or above its initial level on any quarterly call observation date.
The payout will be par plus 50% if the index finishes positive. Par if the index declines by up to 32%. Otherwise, investors will have full exposure to the decline.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger autocallable notes
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Underlying index: | Euro Stoxx 50
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Amount: | $20,780,500
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Maturity: | Nov. 20, 2024
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Coupon: | 0%
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Price: | Par of $10
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Call: | Beginning in November 2020, at par plus 10% per year if index closes at or above initial level on any quarterly call observation date
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Payout at maturity: | Par plus 50% if the index finishes positive; par if index declines by up to 32%; otherwise, full exposure to decline
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Initial levels: | 3,711.61
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Downside threshold: | 2,523.89, 68% of initial level
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Pricing date: | Nov. 15
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Settlement date: | Nov. 20
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Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
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Fees: | 2.85%
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Cusip: | 36258L866
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