By William Gullotti
Buffalo, N.Y., May 1 – GS Finance Corp. priced $7.2 million of 0% bearish autocallable absolute return index-linked notes due Oct. 24, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 19% if the index’s closing level has declined from the initial level by more than 30% on any day during the life of the notes.
At maturity, if the index decreases from its initial level by more than 30%, the payout will be par plus 19%.
If the final index level decreases from the initial index level by no more than 30%, the payout will be par plus the absolute value of the index return.
If the index finishes flat or gains, the payout at maturity will be par.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable absolute return index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $7,201,000
|
| Maturity: | Oct. 24, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level decreases from the initial index level by more than 30%, par plus 19%; if the index declines by up to 30%, par plus the absolute value of the index return; if the index finishes flat or gains, par
|
| Call: | Automatically at par plus 19% if index’s closing level has declined from initial level by more than 30% on any day during the life of the notes
|
| Initial level: | 4,133.52
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 40057RGX0
|
|
|
© 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.
