Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.05 million callable contingent coupon notes on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – GS Finance Corp. priced $9.05 million of callable contingent coupon index-linked notes due Jan. 31, 2030 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 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 contingent monthly coupon at an annualized rate of 4% if each index closes at or above its 80% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date beginning in July.
The payout will be par plus the final coupon, if any.
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 index-linked notes
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Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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Amount: | $9,052,000
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Maturity: | Jan. 31, 2030
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Contingent coupon: | 4% per year, payable monthly if each index closes at or above coupon trigger level on determination date
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Price: | Par
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Payout at maturity: | Par plus final coupon, if any
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Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date beginning in July
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Initial index levels: | 28,722.85 for Dow, 1,658.341 for Russell, 3,276.24 for S&P
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Coupon trigger levels: | 80% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.45%
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Cusip: | 40056XZJ8
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