Published on 7/14/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $540,000 callable contingent coupon notes on three indexes
Chicago, July 15 – GS Finance Corp. priced $540,000 of callable contingent coupon notes due Oct. 1, 2020 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 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 at a rate of 10.5% per year if each index closes at or above its 70% coupon trigger level on the related quarterly determination date.
The notes will be callable at par on any quarterly determination date starting January 2020.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below 70% of its initial level any day during the life of the notes and below its initial level at maturity, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
|
| Amount: | $540,000
|
| Maturity: | Oct. 1, 2020
|
| Contingent coupon: | 10.5% annualized, payable each quarter that each index closes at or above 70% coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless any index finishes below 70% of its initial level any day during the life of the notes and below its initial level at maturity, in which case investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call option: | At par on any quarterly determination date starting January 2020
|
| Initial index levels: | 1,565.046 for Russell, 7,903.401 for Nasdaq and 2,993.07 for S&P
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.85%
|
| Cusip: | 40056FNM3
|
|
|
© 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.
