Published on 2/14/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.74 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – GS Finance Corp. priced $1.74 million of callable contingent coupon notes due Aug. 12, 2027 linked to the Nasdaq-100 Technology Sector 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.
The notes will pay a contingent quarterly coupon of 6.4% per annum if each index closes at or above its 80% coupon trigger level on the observation date for that quarter.
The notes will be callable at par on any quarterly call date after one year.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 80% of its initial level, in which case investors will be exposed to the decline of the least performing index beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Euro Stoxx 50, Nasdaq-100 Technology Sector index
|
Amount: | $1,743,000
|
Maturity: | Aug. 12, 2027
|
Contingent coupon: | 6.4% annualized, payable quarterly if each index closes at or above 80% coupon trigger level on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par plus coupon, if any, unless either index finishes below 80% of its initial level, in which case exposure to decline of least performing index beyond 20%
|
Call option: | At par plus any contingent coupon on any quarterly call date after one year
|
Initial index levels: | 5,721.406 for Nasdaq, 3,798.49 for Stoxx
|
Pricing date: | Feb. 7
|
Settlement date: | Feb. 12
|
Underwriter: | Goldman Sachs & Co. LLC
|
Fees: | 3.9%
|
Cusip: | 40056YHS6
|
|
© 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.