Published on 11/7/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.8 million callable contingent coupon notes on Russell, S&P
Chicago, Nov. 7 – GS Finance Corp. priced $2.8 million of callable contingent coupon notes due Oct. 31, 2029 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.
Each month, the notes pay a contingent coupon if each index closes at or above its coupon trigger level, 75% of its initial level, on the observation date for that period. The annualized coupon rate will be 4.05%.
The notes may be called at par plus any coupon due on any payment date from October 2020 until September 2029.
If the notes are not called, the payout at maturity will be par plus the coupon, if any.
Goldman Sachs & Co. LLC 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 and S&P 500
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Amount: | $2,802,000
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Maturity: | Oct. 31, 2029
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Coupon: | 4.05% annual rate, payable each month the underlying indexes close above 75% of their initial levels
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Price: | Par
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Payout at maturity: | Par plus coupon, if any
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Call option: | At par plus any coupon due, callable monthly between October 2020 until September 2029
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Initial index levels: | 3,039.42 for S&P, 1,571.933 for Russell
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Coupon trigger levels: | 75% of initial values
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Pricing date: | Oct. 28
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Settlement date: | Oct. 31
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3.7%
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Cusip: | 40056XFB7
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