Published on 12/26/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $654,000 9.6% fixed coupon autocalls on Russell, Nasdaq Technology Sector
By Kiku Steinfeld
Chicago, Dec. 26 – GS Finance Corp. $654,000 9.6% autocallable fixed-coupon index-linked notes due Sept. 24, 2020 linked to the Russell 2000 index and the Nasdaq-100 Technology Sector index., 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 called at par plus the coupon if the index closes at or above its initial level on either of two quarterly review dates beginning in March 24, 2020 and ending in June 24, 2020.
The payout at maturity will be par unless the index ever closes below its 75% trigger level during the life of the notes, in which case investors will be fully exposed to any losses.
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: | Autocallable fixed coupon index-linked notes
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| Underlying index: | Nasdaq-100 Technology Sector index and the Russell 2000 index
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| Amount: | $654,000
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| Maturity: | Sept. 24, 2020
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| Coupon: | 9.6% annualized, payable quarterly
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| Price: | Par
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| Call: | At par plus coupon if the index closes at or above initial level on either of two quarterly review dates beginning in March 24, 2020 and ending in June 24, 2020
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| Payout at maturity: | Par unless index ever closes below the 75% trigger level during life of notes, in which case investors will be fully exposed to any losses
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| Initial levels: | 5,368.605 for Nasdaq Technology Sector, 1,657.564 for Russell
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| Trigger levels: | 75% of initial values
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 20
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| Agent: | Goldman Sachs & Co.
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| Fees: | 0.35%
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| Cusip: | 40056XVV5
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