Published on 12/20/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.5 million step down trigger autocallables linked to FTSE, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Dec. 20 – GS Finance Corp. priced $3.5 million of 0% step down trigger autocallable notes due Dec. 23, 2024 linked to the lesser performing of the FTSE 100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 10.1% per year if each index closes at or above its initial level on any annual call observation date.
If the notes are not called and the final level of each index is greater than or equal to its downside threshold, 75% of its initial level, the payout at maturity will be par plus 50.5%. Otherwise, investors will be exposed to the decline of the lesser-performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
|
| Underlying indexes: | FTSE 100 and Euro Stoxx 50
|
| Amount: | $3.5 million
|
| Maturity: | Dec. 23, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level of each index is greater than or equal to downside threshold, par plus 50.5%; otherwise, exposure to decline of lesser-performing index from initial level
|
| Call: | At par plus 10.1% per year if each index closes at or above initial level on any annual observation date
|
| Initial levels: | 7,540.75 for FTSE 100 and 3,739.00 for Euro Stoxx 50
|
| Downside thresholds: | 5,655.56 for FTSE 100 and 2,804.25 for Euro Stoxx 50, or 75% of initial levels
|
| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 1.1%
|
| Cusip: | 36259E705
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