Published on 8/15/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.6 million callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., Aug. 15 – GS Finance Corp. priced $1.6 million of callable contingent coupon index-linked notes due July 29, 2024 tied to the Nasdaq-100 index, 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 quarterly coupon at an annual rate of 7.2% if each index closes at or above the coupon trigger level, 60% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after six months.
If the notes have not been called and each index finishes at or above its coupon trigger, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger but not below its 50% trigger buffer, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,599,000
|
| Maturity: | July 29, 2024
|
| Coupon: | 7.2% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger, par plus final coupon; if worst performer finishes below coupon trigger but at or above trigger buffer, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | At par plus any coupon due on any quarterly call observation date after six months
|
| Initial index levels: | 3,961.63 for S&P, 1,806.881 for Russell, 12,396.47 for Nasdaq
|
| Trigger buffer levels: | 50% of initial levels
|
| Coupon trigger levels: | 60% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.55%
|
| Cusip: | 40057MPP8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
