Goldman Sachs plans autocallable buffered notes on iShares MSCI EM

By Toni Weeks

San Luis Obispo, Calif., Sept. 27 - Goldman Sachs Group, Inc. plans to price 36-month 0% autocallable buffered notes linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called if the fund closes at or above the initial price on either of four call observation dates, which are expected to be 12 months, 18 months, 24 months and 30 months after the pricing date. The payout will be 106.8% to 108% of par if the notes are called on the first observation date, and the call premium will increase by 3.4% to 4% for every call observation date thereafter.

If the notes are not called and the fund return is zero or positive, the payout at maturity will be the maximum settlement amount of $1,204 to $1,240 per $1,000 principal amount of notes. Investors will receive par if the fund declines by up to 25% and will lose 1.3333% for each 1% decline beyond the 25% buffer.

The exact terms will be set at pricing.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38147QWA0.

© 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.