Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.04 million callable contingent coupon notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Dec. 27 – GS Finance Corp. priced $4.04 million of callable contingent coupon notes due Nov. 30, 2028 linked to 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 pay a contingent monthly coupon if each index closes at or above 75% of its initial level on the observation date. The contingent coupon will be 6% per year.
The notes are callable at par on any payment date after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon, if any.
Goldman Sachs & Co. 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: | Russell 2000 index, S&P 500 index
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Amount: | $4,035,000
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Maturity: | Nov. 30, 2028
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Coupon: | 6% per year, payable monthly if each indexes close at or above 75% of its initial level on the observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon, if any
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Call option: | At par on any coupon payment date after one year
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Initial levels: | 1,530.384 for Russell, 2,743.79 for S&P
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.7%
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Cusip: | 40056EFA1
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