Published on 7/15/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.72 million callable contingent coupon notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 15 – GS Finance Corp. priced $9.72 million of callable contingent coupon notes due July 16, 2025 linked to the iShares MSCI Emerging Markets ETF, the Russell 2000 index and the S&P 500 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 monthly coupon at an annual rate of 8% if each asset closes at or above its 60% coupon trigger level on the determination date for that month.
The notes will be callable at par plus any contingent coupon on any coupon payment date beginning in January 2020.
The payout at maturity will be par plus any coupon, unless either asset finishes below 60% of its initial level, in which case investors will be fully exposed to any decline of the least performing asset.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF, S&P 500 index and Russell 2000 index
|
| Amount: | $9,719,000
|
| Maturity: | July 16, 2025
|
| Contingent coupon: | 8%, payable monthly if each asset closes at or above 60% coupon trigger level on the determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon, unless either asset declines by more than 40%, in which case full exposure to decline of least performing asset
|
| Call: | Callable at par plus contingent coupon on any payment date after six months
|
| Initial asset levels: | $42.82 for ETF, 1,557.921 for Russell, 2,999.91 for S&P
|
| Pricing date: | July 11
|
| Settlement date: | July 16
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.975%
|
| Cusip: | 40056FUE3
|
|
|
© 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.
