Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $100,000 contingent coupon autocallables linked to Russell, S&P, Stoxx
By Sarah Lizee
Olympia, Wash., Dec. 10 – GS Finance Corp. priced $100,000 of autocallable contingent coupon notes due March 4, 2021 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.75% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless any index closes below its trigger level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $100,000
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| Maturity: | March 4, 2021
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| Coupon: | 6.75%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below trigger level during life of notes and any index finishes below initial level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date
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| Initial levels: | 3,707.68 for Stoxx, 1,621.904 for Russell 2000 and 3,133.64 for S&P 500
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.275%
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| Cusip: | 40056XMK9
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