Published on 3/1/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.68 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 1 – GS Finance Corp. priced $5.68 million of trigger autocallable contingent yield notes due Feb. 28, 2029 linked to the Russell 2000 index and the MSCI Emerging Markets 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 6.65% 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 observation date after one year.
The payout at maturity will be par plus any coupon unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and MSCI Emerging Markets
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| Amount: | $5,682,880
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| Maturity: | Feb. 28, 2029
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| Coupon: | 6.65%, 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 observation date after one year
|
| 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: | 1,577.483 for Russell, 1,064.94 for MSCI Emerging Markets
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| Coupon barriers: | 1,104.238 for Russell, 745.458 for MSCI Emerging Markets, 70% of initial levels
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| Downside thresholds: | 788.7422 for Russell, 532.47 for MSCI Emerging Markets, 50% of initial levels
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| Pricing date: | Dec. 27
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| Settlement date: | Feb. 28
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co.
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| Fees: | 3.95%
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| Cusip: | 36257D212
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