Published on 8/20/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $983,000 autocallable contingent coupon equity notes on four stocks
By Kiku Steinfeld
Chicago, Aug. 20 – GS Finance Corp. priced $983,000 of autocallable contingent coupon equity-linked notes due July 26, 2024 linked to the common stock of Apple Inc., Boeing Co., Walt Disney Co. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each stock closes at or above the barrier level, 60% of the initial price, on the determination date for that quarter, the notes will pay a contingent quarterly coupon at an annual rate of 11%.
The notes will be called at par plus the contingent coupon if the stock closes at or above 90% of its initial stock price on any quarterly call observation date after six months.
The payout at maturity will be par plus the coupon unless the stock finishes below 60% of its initial stock price, in which case investors will lose 1% for each 1% decline of the lesser performing stock.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stocks: | Apple Inc., Boeing Co., Walt Disney Co., Visa Inc.
|
| Amount: | $983,000
|
| Maturity: | July 26, 2024
|
| Coupon: | 11% per year, payable quarterly if stock closes at or above barrier level on the quarterly determination dater
|
| Price: | Par
|
| Payout at maturity: | Par plus the quarterly contingent coupon unless any stock finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of lesser performing stock
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above 90% of initial stock price on any quarterly call observation date after six months
|
| Initial stock prices: | $202.59 for Apple, $377.36 for Boeing, $139.85 for Walt Disney, $179.24 for Visa
|
| Coupon barrier levels: | $121.554 for Apple, $226.416 for Boeing, $83.91 for Walt Disney, $107.544 for Visa, 60% of initial stock prices
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.1%
|
| Cusip: | 40056FUZ6
|
|
|
© 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.
