Published on 8/21/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $10.36 million trigger autocallable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., Aug. 21 – GS Finance Corp. priced $10.36 million of trigger autocallable contingent yield notes due Aug. 22, 2025 linked to the Dow Jones industrial average, the Euro Stoxx 50 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 quarterly coupon at an annual rate of 6.2% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any coupon observation date after six months.
The payout at maturity will be par plus any coupon unless either index finishes below the 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Dow Jones industrial average, Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $10,357,870
|
| Maturity: | Aug. 22, 2025
|
| Coupon: | 6.2%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any coupon observation date after six months
|
| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 27,692.88 for Dow, 3,317.62 for Stoxx, 1,572.066 for Russell
|
| Coupon barriers: | 19,385.016 for Dow, 2,322.334 for Stoxx, 1,100.446 for Russell, 70% of initial levels
|
| Downside thresholds: | 16,615.728 for Dow, 1,990.572 for Stoxx, 943.24 for Russell, 60% of initial levels
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 24
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 2.55%
|
| Cusip: | 36259L352
|
|
|
© 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.
