By William Gullotti
Buffalo, N.Y., Nov. 14 – GS Finance Corp. priced $9 million of 0% autocallable contingent coupon underlier-linked notes due Aug. 13, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE 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 quarterly contingent coupon of 10.6% annually if each underlier is at or above the coupon trigger level on the corresponding observation date.
The notes will automatically be called at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date.
At maturity, if each underlier finishes at or above its coupon trigger, the payout will be par plus the final coupon.
If the worst performer finishes below its coupon trigger but at or above its 65% trigger buffer level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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, Russell 2000 index, iShares MSCI EAFE ETF
|
| Amount: | $9 million
|
| Maturity: | Aug. 13, 2025
|
| Coupon: | 10.6%, paid quarterly if each underlier is at or above the coupon trigger level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each underlier finishes above coupon trigger level; if worst performer finishes below coupon trigger but at or above trigger buffer, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial levels on any quarterly observation
|
| Initial levels: | $68.80 for ETF, 4,382.78 for S&P, 1,714.068 for Russell
|
| Coupon trigger levels: | 70% of initial levels
|
| Trigger buffer levels: | 65% of initial levels
|
| Strike date: | Nov. 8
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 13
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057X6K6
|
|
|
© 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.
