By Sarah Lizee
Olympia, Wash., Aug. 17 – GS Finance Corp. priced $1.15 million of autocallable contingent coupon stock-linked notes due Aug. 25, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 12.15% per annum if the stock closes at or above its 70% coupon trigger level on the related determination date, in which case investors will also receive any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below the 70% trigger level, in which case investors will lose 1% for every 1% decline of the stock.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon stock-linked notes
|
| Underlying stock: | Bank of America Corp.
|
| Amount: | $1.15 million
|
| Maturity: | Aug. 25, 2021
|
| Coupon: | 12.15% per year, payable each quarter that stock closes at or above its coupon trigger level on the related determination date, in which case investors will also receive any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below trigger level, in which case investors will lose 1% for every 1% decline of the stock
|
| Call: | At par plus the contingent coupon if stock closes at or above its initial level on any quarterly determination date
|
| Initial level: | $26.11
|
| Coupon trigger: | 70% of initial level
|
| Trigger level: | 70% of initial level
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Placement agent: | JPMorgan
|
| Fees: | 1.1%
|
| Cusip: | 40057CME8
|
|
|
© 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.
