Goldman Sachs plans autocallable buffered notes linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Nov. 18 - Goldman Sachs Group, Inc. plans to price three-year 0% autocallable buffered index-linked notes linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an additional amount if the index closes at or above the initial index level on any call observation date. The additional amount will be 9.75% to 11.375% if the notes are called on the first call observation date, 13.5% to 15.75% if they are called on the second date, 18% to 21% if they are called on the third date and 22.5% to 26.25% if they are called on the fourth date.

The four call observation dates will be spaced six months apart, and the first one will be 13 months after the pricing date.

If the notes are not called, the payout at maturity will be par plus 27% to 31.5% if the final index level is greater than or equal to the initial level. Investors will receive par if the index declines by 30% or less and will lose 1.4286% for every 1% that the index declines beyond 30%.

The exact terms of the notes (Cusip 38143UPX3) will be set at pricing.

Goldman, Sachs & Co. is the underwriter.

© 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.