Published on 7/12/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.58 million callable contingent coupon notes on three indexes
By Sarah Lizee
Olympia, Wash., July 12 – GS Finance Corp. priced $1.58 million of callable contingent coupon notes due July 17, 2024 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 6.25% per year if each index closes at or above its 55% 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 55% of its initial level, 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: | $1,584,000
|
| Maturity: | July 17, 2024
|
| Contingent coupon: | 6.25% annualized, payable each quarter that each index closes at or above 55% 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 55% of its initial level, 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: | July 10
|
| Settlement date: | July 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.35%
|
| Cusip: | 40056FU60
|
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