By Marisa Wong
Los Angeles, Feb. 21 – GS Finance Corp. priced $535,000 of autocallable contingent coupon notes due Aug. 19, 2021 linked to the Dow Jones industrial average, the Nasdaq-100 Technology Sector index 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.5% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity.
The payout at maturity will be par unless any index closes below its trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Dow Jones industrial average, the Nasdaq-100 Technology Sector index and the Russell 2000 index
|
| Amount: | $535,000
|
| Maturity: | Aug. 19, 2021
|
| Coupon: | 8.5%, payable each quarter that each index closes at or above its trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below trigger level during life of notes and any index finishes below initial level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity
|
| Initial levels: | 29,551.42 for Dow, 5,915.499 for Nasdaq and 1,689.377 for Russell
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 18
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.775%
|
| Cusip: | 40056YJE5
|
|
|
© 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.
