Published on 7/17/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.59 million contingent coupon autocallables on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, July 17 – GS Finance Corp. priced $1.59 million of autocallable contingent coupon index-linked notes due July 14, 2022 linked to the lesser performing of 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 monthly coupon of 7% per annum if each index closes at or above its 78% coupon trigger level on the related monthly determination date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call date after one year.
The payout at maturity will be par unless either index finishes below its 78% trigger level, in which case investors will lose 1% for every 1% decline of the least performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000
|
| Amount: | $1,594,000
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| Maturity: | July 14, 2022
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| Coupon: | 7% per year, payable each month that each index closes at or above its 78% coupon trigger level on the related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 78% trigger level, in which case 1% loss for every 1% decline of the least performing index
|
| Call: | At par plus the contingent coupon if each index closes at or above its initial level on any quarterly call determination date after one year
|
| Initial levels: | 1,557.921 for Russell, 3,496.73 for Stoxx
|
| Trigger levels: | 1,215.17838 for Russell, 2,727.4494 for Stoxx, 78% of initial levels
|
| Pricing date: | July 11
|
| Settlement date: | July 16
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.425%
|
| Cusip: | 40056FUG8
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