Published on 7/11/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $600,000 callable contingent coupon notes on indexes
By Marisa Wong
Los Angeles, July 11 – GS Finance Corp. priced $600,000 of callable contingent coupon notes due July 18, 2022 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 at a rate of 7.5% per year if each index closes at or above its 70% coupon trigger level on the related quarterly determination date.
The notes will be callable at par on any quarterly determination date.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $600,000
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| Maturity: | July 18, 2022
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| Contingent coupon: | 7.5% annualized, payable each quarter that each index closes at or above 70% coupon trigger level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call option: | At par on any quarterly determination date
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| Initial index levels: | 1,562.589 for Russell, 7,826.858 for Nasdaq and 26,783.49 for Dow
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| Pricing date: | July 9
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| Settlement date: | July 12
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 40056FT47
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