By Marisa Wong
Madison, Wis., July 6 – Goldman Sachs Group, Inc. priced $275,000 of trigger phoenix autocallable optimization securities due June 30, 2020 linked to Texas Instruments Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 7% per year if Texas Instruments stock closes at or above the barrier price, 69% of the initial share price, on the observation date for that month.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 69% trigger price, in which case investors will be fully exposed to any losses.
Goldman, Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Texas Instruments Inc. (Symbol: TXN)
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| Amount: | $275,000
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| Maturity: | June 30, 2020
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| Coupon: | 7% per year, payable monthly if stock closes at or above barrier price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if shares close at or above initial price on any monthly observation date beginning June 27, 2016
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| Initial price: | $52.90
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| Barrier/trigger level: | $36.50, 69% of initial price
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| Trade date: | June 26
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| Settlement date: | June 30
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 2.85%
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| Cusip: | 38148W813
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