Published on 11/19/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.02 million 7.55% fixed coupon autocalls on Bank of America
By Wendy Van Sickle
Columbus, Ohio, Nov. 19 – GS Finance Corp. priced $5.02 million of 7.55% autocallable fixed-coupon equity-linked notes due Feb. 23, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any of three quarterly review dates.
The payout at maturity will be par unless the stock finishes below its 79% trigger level, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable fixed coupon equity-linked notes
|
| Underlying stock: | Bank of America Corp.
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| Amount: | $5,017,000
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| Maturity: | Feb. 23, 2021
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| Coupon: | 7.55% annualized, payable monthly
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| Price: | Par
|
| Call: | At par if the stock closes at or above initial level on May 14, 2020, Aug. 14, 2020 or Nov. 16, 2020
|
| Payout at maturity: | Par unless stock finishes below the 79% trigger level, in which case investors will be fully exposed to any losses
|
| Initial level: | $32.70
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| Trigger level: | 79% of initial value
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 19
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.35%
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| Cusip: | 40056XKS4
|
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