Published on 4/3/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.31 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 3 – GS Finance Corp. priced $1.31 million of callable contingent coupon notes due April 2, 2024 linked to the Euro Stoxx 50 index, the S&P 500 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 7.25% if each index closes at or above its 60% coupon trigger level on the determination date for that quarter.
The notes will be callable at par plus any contingent coupon on any coupon payment date beginning in April 2020.
The payout at maturity will be par plus any coupon, unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to any decline of the least performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $1,309,000
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| Maturity: | April 2, 2024
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| Contingent coupon: | 7.25%, payable quarterly if each index closes at or above 60% coupon trigger level on the determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon, unless any index declines by more than 40%, in which case full exposure to decline of least performing index
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| Call: | Callable at par plus contingent coupon on any payment date beginning in April 2020
|
| Initial index levels: | 2,815.44 for S&P and 1,535.104 for Russell, 3,320.29 for Stoxx
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| Pricing date: | March 28
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| Settlement date: | April 2
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| Agent: | Goldman Sachs & Co.
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| Fees: | 1.27%
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| Cusip: | 40056F4V4
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