Goldman Sachs plans 0% autocallable buffered notes linked to S&P 500

By Jennifer Chiou

New York, July 1 - Goldman Sachs Group, Inc. plans to price one-year 0% autocallable buffered index-linked notes tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the initial index level on any of the call observation dates, the notes will be automatically called at par plus an applicable call premium. The call premium will be 1.5% to 2% for the first call observation date, 3% to 4% for the second, 4.5% to 6% for the third, 6% to 8% for the fourth, 7.5% to 10% for the fifth and 9% to 12% for the determination date.

The first call observation date is expected to be two months after issue, with the remaining dates to follow every two months.

If the notes are not called and the final index level is at least 90% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% index decline beyond 10%.

The exact deal terms 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.