Published on 3/31/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.4 million autocallable index-linked notes on S&P 500, Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., March 31 – Goldman Sachs Group, Inc. priced $2.4 million of 0% autocallable index-linked notes due March 29, 2018 tied to the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 13.5% annualized premium if the indexes close at or above their initial index levels on either of two annual call observation dates beginning about one year after issue.
If the notes are not called, the payout at maturity will be par 40.5% if each index closes at or above its initial level.
If each index finishes below its initial level but at or above its trigger level, 75% of its initial level, the payout at maturity will be par.
If either index falls by more than 25%, investors will be exposed to any losses of the worst-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Euro Stoxx 50, S&P 500
|
| Amount: | $2,399,000
|
| Maturity: | March 29, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 40.5%; if each index finishes below its initial level but at or above trigger level, par; if either index falls by more than 25%, par plus return of worst-performing index, with full exposure to losses
|
| Call: | At par plus 13.5% per year if both indexes close at or above their initial levels on March 29, 2016 or March 27, 2017
|
| Initial index levels: | 2,056.15 for S&P, 3,669.79 for Euro Stoxx
|
| Trigger levels: | 75% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.425%
|
| Cusip: | 38147QVY9
|
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