By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – GS Finance Corp. priced $3.1 million of trigger autocallable contingent yield notes due Aug. 24, 2026 linked to the Russell 2000 index and the Euro Stoxx 50 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 8.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning Aug. 21, 2017, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $3.1 million
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Maturity: | Aug. 24, 2026
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Coupon: | 8.25%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless either index finishes below downside threshold level, in which case full exposure to decline of lesser-performing index
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Call: | Beginning Aug. 21, 2017, automatically at par if indexes close at or above initial levels on any quarterly observation date
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Initial index levels: | 1,236.769 for Russell 2000 and for 2,968.20 Euro Stoxx 50
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Coupon barriers: | 865.738 for Russell 2000 and 2,077.74 for Euro Stoxx 50; 70% of initial levels
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Downside thresholds: | 618.385 for Russell 2000 and 1,484.10 for Euro Stoxx 50; 50% of initial levels
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Pricing date: | Aug. 19
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Settlement date: | Aug. 24
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.95%
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Cusip: | 36250Y569
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