By Kiku Steinfeld
Chicago, Aug. 18 – GS Finance Corp. priced $1.22 million of autocallable contingent coupon equity-linked notes due Aug. 14, 2023 linked to Nvidia Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 60% of the initial price, the notes will pay a contingent quarterly coupon minus previously paid coupons at an annual rate of 10.7% on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial stock price on any determination date after one year.
The payout at maturity will be par plus the coupon unless the stock finishes below 60% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Nvidia Corp.
|
| Amount: | $1,219,000
|
| Maturity: | Aug. 14, 2023
|
| Coupon: | 10.7% per year, payable quarterly minus previously paid coupons if stock closes at or above barrier level on the quarterly valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the stock finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial stock price on any quarterly determination date after one year
|
| Initial stock price: | $447.98
|
| Barrier level: | 60% of initial stock price
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40057CMB4
|
|
|
© 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.
