By William Gullotti
Buffalo, N.Y., Nov. 12 – GS Finance Corp. priced $2 million of autocallable contingent coupon ETF-linked notes due Nov. 13, 2026 tied to the VanEck Vectors Junior Gold Miners ETF and the iShares Silver Trust, 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 monthly coupon at an annual rate of 8.2% if each ETF closes at or above the coupon trigger level, 85% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each ETF closes at or above its initial level on any monthly call observation date after one year.
If the notes are not called and each ETF finishes at or above 85% of initial value, the payout will be par plus the final coupon.
If the worst performer falls by more than 15%, investors will lose 1% for every 1% decline of that ETF below 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying ETFs: | VanEck Vectors Junior Gold Miners ETF, iShares Silver Trust
|
| Amount: | $2,000,000
|
| Maturity: | Nov. 13, 2026
|
| Coupon: | 8.2% annualized rate, payable monthly if each ETF closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above trigger buffer level, par plus coupon; if any ETF falls by more than 15%, lose 1% for every 1% decline beyond the 15%
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any monthly call observation date after one year
|
| Initial ETF levels: | $44.75 for VanEck, $22.35 for iShares
|
| Trigger buffer levels: | 85% of initial levels
|
| Coupon trigger levels: | 85% of initial levels
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 10
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 40057K2F9
|
|
|
© 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.
