By William Gullotti
Buffalo, N.Y., Jan. 20 – GS Finance Corp. priced $3.46 million of 0% autocallable contingent coupon underlier-linked notes due Jan. 21, 2027 linked to the lesser performing of the S&P 500 index and the SPDR S&P Regional Banking ETF, 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 monthly contingent coupon of 6.1% annually if each underlier closes at or above the coupon trigger level on the corresponding observation date.
The notes will automatically be called at par plus the coupon if each underlier closes at or above its initial level on any monthly observation date after one year.
At maturity, if each underlier finishes at or above its 85% buffer level, the payout will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the worst performer beyond 15%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon underlier-linked notes
|
| Underlying assets: | S&P 500 index, SPDR S&P Regional Banking ETF
|
| Amount: | $3,458,000
|
| Maturity: | Jan. 21, 2027
|
| Coupon: | Payable monthly at an annual rate of 6.1% if each underlier closes at or above the coupon trigger level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each underlier finishes at or above buffer level; otherwise, lose 1% for every 1% decline of the worst performer beyond 15%
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any monthly observation date after one year
|
| Initial levels: | $78.09 for ETF, 4,659.03 for S&P
|
| Coupon trigger levels: | 80% of initial levels
|
| Buffer levels: | 85% of initial levels
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057KRN5
|
|
|
|
|
© 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.
