Published on 5/2/2019 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $148,000 absolute return trigger notes tied to S&P
By Sarah Lizee
Olympia, Wash., May 2 – GS Finance Corp. priced $148,000 of 0% absolute return trigger notes due Nov. 3, 2021 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 23% on any day during the life of the notes – the payout at maturity will be $1,027.50 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 $1,230 per $1,000 principal amount.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Absolute return trigger notes
|
| Underlying index: | S&P 500
|
| Amount: | $148,000
|
| Maturity: | Nov. 3, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ever gains or falls by more than 23%, par plus 2.75%; otherwise, plus absolute return, capped at 23%
|
| Initial level: | 2,945.83
|
| Thresholds: | 77% and 123% of initial level
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.925%
|
| Cusip: | 40056F6N0
|
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