Published on 9/20/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $708,000 autocallable index-linked notes on indexes
By Sarah Lizee
Olympia, Wash., Sept. 20 – GS Finance Corp. priced $708,000 of 0% autocallable index-linked notes due Sept. 21, 2022 tied to the Nasdaq-100 index, the Dow Jones industrial average 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 be called at par plus an 7.5% annualized premium if each index closes at or above its call level on any annual call observation date. The call level will be 100% of each index’s initial level.
If the notes are not called and each index closes at or above 65% of its initial level, the payout at maturity will be par plus 22.5%.
If any index falls by more than 35%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Nasdaq-100, Dow Jones industrial average, Russell 2000
|
| Amount: | $708,000
|
| Maturity: | Sept. 21, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each index closes at or above 65% of its initial level, par plus 22.5%; if any index falls by more than 35%, investors will be exposed to any losses of the least-performing index
|
| Call: | At par plus 7.5% annualized if each index closes at or above its call level on any annual call observation date; call level will be 100% of each index’s initial level
|
| Initial index levels: | 1,584.597 for Russell, 7,852.413 for Nasdaq and 27,076.82 for Dow
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 19
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.85%
|
| Cusip: | 40056X6G6
|
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