Published on 9/3/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $251,000 contingent coupon autocallables on Stoxx, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – GS Finance Corp. priced $251,000 of autocallable contingent coupon index-linked notes due Dec. 4, 2020 linked to the least performing of the S&P 500 index, 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 of8.15% per annum if each index closes at or above its 70% coupon trigger level on the related quarterly 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 determination date.
The payout at maturity will be par unless any index finishes below its initial level and any index ever closes below the 70% trigger level during the life of the notes, 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000, S&P 500
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| Amount: | $251,000
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| Maturity: | Dec. 4, 2020
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| Coupon: | 8.15% per year, payable each quarter that each index closes at or above its 70% coupon trigger level on the related quarterly determination date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below 70% trigger level, in which case 1% loss for every 1% decline of the least performing index
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| Call: | At par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date
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| Initial levels: | 1,456.039 Russell, 2,869.16 for S&P, 3,370.47 for Stoxx
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 30
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.275%
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| Cusip: | 40056FZ81
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