Published on 9/30/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5 million of trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Sept. 30 – GS Finance Corp. priced $5 million of trigger callable yield notes due March 29, 2023 tied to the Euro Stoxx 50 index, 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 will pay a quarterly coupon at an annualized rate of 9.7% if each index closes at or above 65% of its initial level on the relevant determination date.
The notes may be redeemed at par plus any coupon on any coupon payment date.
The payout at maturity will be par of $10 plus any final coupon due if each index finishes at or above 60% of its initial level.
Investors will be exposed to any losses of the least performing index if any index finishes below 60% of its initial level.
Goldman Sachs & Co. LLC is the agent and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger callable yield notes
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| Underlying indexes: | Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index
|
| Amount: | $5 million
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| Maturity: | March 29, 2023
|
| Coupon: | 9.7% annualized rate, payable quarterly if each index closes above 70% of initial level
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any coupon due if worst performing index finishes above 60% of initial level, otherwise full exposure to losses of worst performing index
|
| Call: | At par plus any coupon due on any coupon payment date
|
| Initial levels: | 2,984.87 for S&P, 1,550.654 for Russell and 3,513.03 for Stoxx
|
| Coupon barriers: | 1,940.166 for S&P, 1,007.925 for Russell and 2,283.470 for Stoxx, 65% of initial levels
|
| Barrier levels: | 1,790.922 for S&P, 930.392 for Russell and 2,107.818 for Stoxx, 60% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 36258L551
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