Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.02 million callable contingent coupon notes on ETF, indexes
By Marisa Wong
Morgantown, W.Va., May 1 – GS Finance Corp. priced $1.02 million of callable contingent coupon notes due April 24, 2023 linked to the SPDR S&P Bank exchange-traded fund, the Nasdaq-100 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 annual rate of 6.15% if each asset closes at or above its 60% coupon trigger level on the related monthly determination date.
The notes will be callable at par on any coupon payment date beginning in April 2020.
The payout at maturity will be par plus the coupon, unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to any decline of the least performing asset.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | SPDR S&P Bank ETF, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,018,000
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| Maturity: | April 24, 2023
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| Contingent coupon: | 6.15%, payable each month that each asset closes at or above 60% coupon trigger level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon, unless any asset declines by more than 40%, in which case full exposure to decline of least performing asset
|
| Call option: | At par on any coupon payment date beginning in April 2020
|
| Initial asset levels: | $44.69 for ETF, 7,654.731 for Nasdaq, 1,582.785 for Russell
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| Pricing date: | April 16
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| Settlement date: | April 22
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.05%
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| Cusip: | 40056FBB0
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