Published on 8/28/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $13.76 million underlier-linked autocalls on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Aug. 28 – GS Finance Corp. priced $13.76 million of 0% underlier-linked notes due Oct. 1, 2020 linked to the S&P 500 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.
If neither asset closes below its trigger level, 67.5% of its initial level, any day during the life of the notes, the payout at maturity will be par plus 9.4%
Otherwise, investors will receive par if the final return of each asset is zero or positive and will be fully exposed to losses of the lesser-performing asset if its return is negative.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Underlier-linked notes
|
| Underlying assets: | S&P 500 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $13,756,000
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If neither asset closes below 67.5% of its initial level any day during life of notes, par plus 9.4%; otherwise, par if final return of each asset is zero or positive full exposure to losses of lesser-performing asset if its return is negative
|
| Initial levels: | 2,878.38 for index and $39.26 for ETF
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.53%
|
| Cusip: | 40056X3G9
|
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