Published on 5/30/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $696,000 autocallable notes on index, ETF
By Sarah Lizee
Olympia, Wash., May 30 – GS Finance Corp. priced $696,000 of 0% autocallable notes due June 1, 2023 linked to the lesser performing index of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized call premium of 9% if each underlying closes at or above 90% of its initial level on any annual call valuation date.
If the final level of the lesser-performing underlying is at least 90% of its initial level, the payout will be par plus 36%. If the either underlying declines by more than 10% but not by more than 30%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable notes
|
| Underlying assets: | Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $696,000
|
| Maturity: | June 1, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of the lesser-performing underlying is at least 90% of its initial level, par plus 36%; if the either underlying declines by more than 10% but not by more than 30%, par; otherwise, 1% loss for each 1% decline of the lesser-performing underlying from its initial level
|
| Call: | Automatically called at par plus an annualized call premium of 9% if each underlying closes at or above 90% of its initial level on any annual call valuation date
|
| Initial levels: | 3,350.70 for index and $39.95 for ETF
|
| Pricing date: | May 24
|
| Settlement date: | May 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.3%
|
| Cusip: | 40056FCG8
|
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