By Kiku Steinfeld
Chicago, Jan. 5 – GS Finance Corp. priced $1.58 million of autocallable contingent coupon stock-linked notes due Jan. 6, 2026 linked to Valero Energy Corp. stock, 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 at a rate of 11.5% per annum if the stock closes at or above its 75% coupon trigger level on a related quarterly determination date.
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 plus the final coupon unless the stock falls by more than 50%, in which case investors will lose 1% for every 1% decline of the stock.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon stock-linked notes
|
| Underlying stock: | Valero Energy Corp.
|
| Amount: | $1,583,000
|
| Maturity: | Jan. 6, 2026
|
| Coupon: | 11.5% per year, payable each quarter that stock closes at or above its coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock falls by more than trigger level, in which case full exposure to share price decline
|
| Call: | At par plus the contingent coupon if stock closes at or above its initial level on any quarterly determination date
|
| Initial level: | $55.45
|
| Trigger level: | 50% of initial level
|
| Pricing date: | Dec. 29
|
| Settlement date: | Dec. 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.6943%
|
| Cusip: | 40057EWU7
|
|
|
© 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.
