Published on 2/6/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.96 million dual directional trigger PLUS on S&P MidCap, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – GS Finance Corp. priced $2.96 million of 0% dual directional trigger Performance Leveraged Upside Securities due Feb. 3, 2022 linked to the lesser performing of the S&P MidCap 400 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.
If each index finishes above its initial level, the payout at maturity will be par plus 200% of the return of the lesser-performing index, capped at par plus 40.7%.
If either index finishes at or below its initial level but each index finishes at or above its trigger level, 80% of its initial level, the payout will be par plus the absolute value of the return of the lesser-performing index.
If either index finishes below its trigger level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P MidCap 400 and Russell 2000
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| Amount: | $2,958,000
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| Maturity: | Feb. 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 200% of return of lesser-performing index, capped at par plus 40.7%; if either index finishes at or below initial level but each index finishes at or above trigger level, par plus absolute value of return of lesser-performing index; if either index finishes below trigger level, 1% loss for every 1% that lesser-performing index declines from initial level
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| Initial index levels: | 1,835.39 for S&P MidCap 400 and 1,499.419 for Russell 2000
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| Trigger levels: | 1,468.312 for S&P MidCap 400 and 1,199.5352 for Russell 2000; 80% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | Goldman Sachs & Co.
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| Fees: | 3.175%
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| Cusip: | 36257D162
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