Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $930,000 index-linked autocallables on Stoxx, FTSE
By Wendy Van Sickle
Columbus, Ohio, March 30 – GS Finance Corp. priced $930,000 of 0% index-linked notes due March 31, 2025 tied to the lesser performing of the Euro Stoxx 50 index and the FTSE 100 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 called at par plus 13.5% a year if both indexes close above their initial level on any quarterly call date.
The payout at maturity will be par plus 67.5% if each index finishes at or above its initial level. If either index finishes below its initial level but neither index finishes below its 60% trigger level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing index.
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: | Index-linked autocallable notes
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Underlying indexes: | Euro Stoxx 50, FTSE 100
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Amount: | $930,000
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Maturity: | March 31, 2025
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Coupon: | 0%
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Price: | Par of $1,000
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Call: | At par plus 13.5% annualized call premium if both indexes close above their initial level on any quarterly call date
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Payout at maturity: | Par plus 67.5% if each index finishes at or above its initial level; if either index finishes below its initial level but neither index finishes below 60% trigger level, par; otherwise, full exposure to decline of lesser performing index
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Initial levels: | 2,485.54 for Stoxx, 4,993.89 for FTSE
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Pricing date: | March 23
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Settlement date: | March 26
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Agent: | Goldman, Sachs & Co. LLC
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Fees: | 4.45%
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Cusip: | 40056YRX4
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