Published on 1/27/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $923,000 autocallable contingent coupon notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., Jan. 27 – GS Finance Corp. priced $923,000 of autocallable contingent coupon notes due Oct. 30, 2023 linked to the iShares MSCI Emerging Markets ETF, the Euro Stoxx 50 index and the Nikkei 225 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% per annum if each asset closes at or above its 70% coupon barrier level on the related observation date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon, if any, unless any asset finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the least-performing asset.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 index and Nikkei 225 index
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| Amount: | $923,000
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| Maturity: | Oct. 30, 2023
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| Contingent coupon: | 6% annualized, payable quarterly if each component closes at or above coupon barrier on the related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon, if any, unless any asset closes below its trigger level, in which case 1% loss for each 1% decline of least-performing asset
|
| Call: | Automatically at par plus contingent coupon if each asset finishes at or above initial level on any quarterly determination date after six months
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| Initial levels: | 24,031.35 for Nikkei, 3,769.79 for Stoxx and $45.43 for ETF
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| Coupon barriers: | 70% of initial levels
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 3.25%
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| Cusip: | 40056YCM4
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