Published on 2/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.52 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 11 – GS Finance Corp. priced $1.52 million of callable contingent coupon notes due Feb. 5, 2026 linked to 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 of 8.1% per annum if each index closes at or above its 70% coupon trigger level on the observation date for that quarter.
The notes will be callable at par on any quarterly call date.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below 60% 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 underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $1,522,000
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| Maturity: | Feb. 5, 2026
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| Contingent coupon: | 8.1% annualized, payable quarterly if each index closes at or above 70% coupon trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, if any, unless any index finishes below 60% of its initial level, in which case full exposure to decline of least performing index
|
| Call option: | At par plus any contingent coupon on any quarterly call date
|
| Initial index levels: | 3,225.52 for S&P, 3,640.91 for Stoxx and 1,614.061 for Russell
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.255%
|
| Cusip: | 40056YCB8
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