By Susanna Moon
Chicago, March 8 – GS Finance Corp. priced $7.79 million of contingent income callable securities due Feb. 19, 2021 linked to the Gilead Sciences, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if the stock closes at or above its 75% coupon barrier on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income callable securities
|
| Underlying stock: | Gilead Sciences, Inc. (Symbol: GILD)
|
| Amount: | $7,790,500
|
| Maturity: | Feb. 19, 2021
|
| Coupon: | 10.25% annualized, payable quarterly if stock closes at or above 75% coupon barrier on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above its initial level on any determination date
|
| Initial level: | $80.70
|
| Downside threshold: | $60.525, 75% of initial level
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
| Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 2.675%
|
| Cusip: | 36254F848
|
|
|
|
|
© 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.
