Published on 1/7/2019 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.17 million absolute return trigger notes tied to S&P
By Susanna Moon
Chicago, Jan. 7 – GS Finance Corp. priced $2.17 million of 0% absolute return trigger notes due Dec. 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If a barrier event occurs – the index ever gains or falls by more than 22% on any day during the life of the notes – the payout at maturity will be $1,036 for each $1,000 principal amount.
Otherwise, the payout will be plus par plus the absolute value of the return, up to a maximum payment of $1,220 per $1,000 principal amount.
The guarantor is Goldman Sachs Group, Inc.
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: | Absolute return trigger notes
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| Underlying index: | S&P 500
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| Amount: | $2,165,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ever gains or falls by more than 22%, par plus 3.6%; otherwise, plus absolute return, capped at 22%
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| Initial level: | 2,467.42
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| Thresholds: | 78% and 122% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.675%
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| Cusip: | 40056EN87
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