Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
GS Finance to price contingent coupon autocallables linked to indexes
By Sarah Lizee
Olympia, Wash., April 25 – GS Finance Corp. plans to price autocallable contingent coupon notes due Aug. 3, 2020 linked to the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 9% per year and will be set at pricing.
Beginning in July, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any index has closed below 70% of its initial level on any trading day during the life of the notes and any index finishes below its initial level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price April 26.
The Cusip number is 40056FCQ6.
© 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.