Published on 2/14/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $64,000 notes linked to Aging of America index
By Angela McDaniels
Tacoma, Wash., Feb. 14 – GS Finance Corp. priced $64,000 of 0% autocallable notes due Feb. 27, 2026 linked to the Motif Capital Aging of America 7 ER index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus 7% per year if the index closes at or above its call level on any annual call observation date. The call level is 102.4% of the initial index level on Feb. 12, 2020, 104.8% of the initial index level on Feb. 12, 2021, 107.2% of the initial index level on Feb. 14, 2022, 109.6% of the initial index level on Feb. 13, 2023, 112% of the initial index level on Feb. 12, 2024 and 114.4% of the initial index level on Feb. 12, 2025.
If the notes are not called and the index return is positive, the payout at maturity will be par plus two times the index return. If the index return is zero or negative, the payout will be par.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable notes
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Underlying index: | Motif Capital Aging of America 7 ER index
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Amount: | $64,000
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Maturity: | Feb. 27, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus two times index return; if index return is zero or negative, par
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Call: | Automatically at par plus 7% per year if index closes at or above call level on any annual call observation date
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Initial level: | 117.51
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Call level: | 102.4% of the initial index level on Feb. 12, 2020, 104.8% of the initial index level on Feb. 12, 2021, 107.2% of the initial index level on Feb. 14, 2022, 109.6% of the initial index level on Feb. 13, 2023, 112% of the initial index level on Feb. 12, 2024 and 114.4% of the initial index level on Feb. 12, 2025
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Pricing date: | Feb. 12
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Settlement date: | Feb. 15
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.824%
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Cusip: | 40056EUB2
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