Published on 5/28/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.41 million callable contingent coupon notes on indexes, ETF
Chicago, May 28 – GS Finance Corp. priced $6.41 million of callable contingent coupon notes due May 24, 2023 linked to the iShares MSCI EAFE ETF, 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 10.3% per annum if each asset closes at or above its 80% coupon barrier level on the relevant coupon observation date.
The notes may be called at par plus the contingent coupon beginning in November and ending in February 2023.
The payout at maturity will be par plus the final coupon, if applicable, unless any asset closes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing asset.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | iShares MSCI EAFE ETF, Euro Stoxx 50 and Russell 2000
|
| Amount: | $6,405,000
|
| Maturity: | May 24, 2023
|
| Contingent coupon: | 10.3% annualized, payable quarterly if each component closes at or above 80% coupon barrier on relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon, if applicable, unless any asset closes below 60% of initial level, in which case 1% loss for each 1% decline of least-performing asset
|
| Call: | At par plus contingent coupon beginning in November and ending in February 2023
|
| Initial levels: | $64.77 for ETF, 2,859.53 for S&P and 1,535.763 for Russell 2000
|
| Coupon barriers: | 80% of initial levels
|
| Trigger buffer levels: | 60% of initial levels
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 2.55%
|
| Cusip: | 40056FGY5
|
|
|
© 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.
