By Sarah Lizee
Olympia, Wash., May 6 – GS Finance Corp. priced $335,000 of 0% autocallable index-linked notes due May 7, 2025 tied to the S&P 500 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.
The notes will be automatically called on any annual call observation date if the closing level of each index is greater than or equal to its applicable call level. The call payment per $1,000 note will be par plus the percentage increase of the lesser performing index on the preceding call observation date from its initial level. The call level for each index will be 102% of its initial level on the first call date, stepping up by 2% each year.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be plus the lesser performing index return.
If either index falls by up to 45%, the payout will be par.
If either index falls by more than 45%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $335,000
|
| Maturity: | May 7, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each index closes at or above its initial level, par plus lesser-performing index return; if either index falls by up to 45%, par; if either index falls by more than 45%, investors will be exposed to any losses of the least-performing index
|
| Call: | Automatically on any annual call observation date if the closing level of each index is greater than or equal to its applicable call level; call payment per $1,000 note will be par plus the percentage increase of the lesser performing index on the preceding call observation date from its initial level; call level for each index will be 102% of its initial level on the first call date, stepping up by 2% each year
|
| Initial index levels: | 1,310.664 for Russell, 2,912.43 for S&P
|
| Barrier levels: | 55% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.29%
|
| Cusip: | 40056YZY3
|
|
|
© 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.
