Published on 9/4/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.36 million 3.2% autocallable fixed-coupon notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – GS Finance Corp. priced $2.36 million 3.2% autocallable fixed-coupon notes due Sept. 6, 2022 linked to the least performing of the stocks of Amazon.com, Inc., Alphabet Inc., Apple Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 60% buffer level, in which case investors will lose 1% for each 1% decline of the least-performing stock.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable fixed-coupon notes
|
| Underlying stocks: | Amazon.com, Inc., Alphabet Inc., Apple Inc. and Netflix, Inc.
|
| Amount: | $2,355,000
|
| Maturity: | Sept. 6, 2022
|
| Coupon: | 3.2%, payable quarterly
|
| Price: | Par
|
| Call: | At par plus the coupon if each stock closes at or above its initial level on any quarterly call observation date after six months
|
| Payout at maturity: | Par unless any stock finishes below the 60% buffer level, in which case investors will lose 1% for each 1% decline of the least-performing stock
|
| Initial levels: | $1,761.83 for Amazon, $1,167.84, $204.16 for Apple and $291.03 for Netflix
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.5%
|
| Cusip: | 40056FYD1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
