Published on 4/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.16 million callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., April 2 – GS Finance Corp. priced $9.16 million of callable contingent coupon notes due April 1, 2030 linked to the S&P 500 index, the Dow Jones industrial average 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 monthly coupon of 6.7% per annum if each index closes at or above its 80% coupon trigger level on the observation date for that month.
The notes will be callable at par on any monthly call date after six months.
The payout at maturity will be par plus the final coupon, if any.
Goldman Sachs & Co. LLC is the underwriter.
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: | S&P 500, Dow Jones industrial average, Russell 2000
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Amount: | $9,163,000
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Maturity: | April 1, 2030
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Contingent coupon: | 6.7% annualized, payable monthly if each index closes at or above coupon trigger level on observation date for that month
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Price: | Par
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Payout at maturity: | Par plus coupon, if any
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Call option: | At par on any monthly call date after six months
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Initial index levels: | 1,180.319 for Russell, 2,630.07 for S&P and 22,552.17 for Dow
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Coupon trigger levels: | 80% of initial levels
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3.2%
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Cusip: | 40056YPE8
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