Published on 4/15/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 contingent coupon autocallables on indexes
By Marisa Wong
Morgantown, W.Va., April 15 – GS Finance Corp. priced $500,000 of autocallable contingent coupon notes due April 3, 2023 linked to the Russell 2000 index, S&P 500 index and S&P MidCap 400 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 of 4.25% per annum if each index closes at or above its 70% coupon trigger level on the related quarterly determination date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any index finishes below 70% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing index beyond 30%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000, S&P 500, S&P MidCap 400
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| Amount: | $500,000
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| Maturity: | April 3, 2023
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| Contingent coupon: | 4.25% annualized, payable each quarter that each index closes at or above 70% coupon trigger level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 70% of its initial level, in which case 1% loss for every 1% decline of the least performing index beyond 30%
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date
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| Initial index levels: | 1,512.864 for Russell, 2,798.36 for S&P and 1,858.22 for MidCap
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Agent: | Goldman Sachs & Co.
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| Fees: | 0.3%
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| Cusip: | 40056F3W3
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