By Angela McDaniels
Tacoma, Wash., May 14 – Goldman Sachs Group, Inc. priced $7.12 million of autocallable contingent coupon notes due May 16, 2030 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7.3% per year if the index closes at or above 75% of the initial level on the determination date for that month.
Beginning in May 2016, the notes will be automatically called at par plus the contingent coupon if the index closes at or above 115% of its initial level on any monthly determination date.
If the notes have not been called and the index return is greater than or equal to negative 25%, the payout at maturity will be par plus the contingent coupon. If the index return is less than negative 25% but greater than or equal to negative 35%, the payout will be par. If the index return is less than negative 35%, investors will be fully exposed to the index’s decline.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $7.12 million
|
| Maturity: | May 16, 2030
|
| Coupon: | Each month, notes pay contingent coupon at rate of 7.3% per year if index closes at or above 75% of initial level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than or equal to negative 25%, par plus contingent coupon; if index return is less than negative 25% but greater than or equal to negative 35%, par; if index return is less than negative 35%, full exposure to index’s decline
|
| Call: | Beginning in May 2016, notes will be automatically called at par plus contingent coupon if index closes at or above 115% of initial level on any monthly determination date
|
| Initial index level: | 3,573.1
|
| Pricing date: | May 12
|
| Settlement date: | May 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.75%
|
| Cusip: | 38148T2B4
|
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