Published on 11/13/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.31 million contingent coupon autocallables on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – GS Finance Corp. priced $1.31 million of autocallable contingent coupon index-linked notes due Nov. 13, 2020 linked to the least performing of the Nasdaq-100 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 of 6% per annum if each index closes at or above its 65% 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 May 5, 2020 or Aug. 5, 2020.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below its initial level and either index has ever closed below its 62% trigger level any day during the life of the notes, in which case investors will be fully exposed to the loss 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: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $1,312,000
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| Maturity: | Nov. 13, 2020
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| Coupon: | 6% per year, payable each quarter that each index closes at or above its 65% coupon trigger level on the related quarterly determination date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon, if any, unless any index finishes below its initial level and either index has ever closed below its coupon trigger level any day during the life of the notes, in which case investors will be fully exposed to the loss of the least-performing index
|
| Call: | At par plus the contingent coupon if each index closes at or above its initial level on May 5, 2020 or Aug. 5, 2020
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| Initial index levels: | 8,210.176 for Nasdaq, 3,074.62 for S&P and 1,599.611 for Russell
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 8
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.69%
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| Cusip: | 40056XP42
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