Published on 2/25/2019 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $748,000 6.4% contingent coupon callables on Stoxx, Nasdaq, fund
By Susanna Moon
Chicago, Feb. 25 – GS Finance Corp. priced $748,000 of callable contingent coupon notes due Feb. 22, 2023 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.4% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any review date after one year.
The payout at maturity will be par unless any asset closes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The guarantor is Goldman Sachs Group, Inc.
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: | iShares MSCI Emerging Markets ETF, Nasdaq-100 index and Euro Stoxx 50 index
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Amount: | $748,000
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Maturity: | Feb. 22, 2023
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Coupon: | 6.4% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If each asset closes at or above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index or fund
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Call option: | At par on any quarterly call review date from February 2020 through January 2023
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Initial levels: | 7,066.612 for Nasdaq, 3,239.41 for Stoxx and $42.42 for fund
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Trigger levels: | 60% of initial levels
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Pricing date: | Feb. 19
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Settlement date: | Feb. 22
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.3%
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Cusip: | 40056EXG8
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