Goldman plans contingent income autocallables linked to JPMorgan

By Susanna Moon

Chicago, March 15 – GS Finance Corp. plans to price contingent income autocallable securities due March 20, 2020 linked to JPMorgan Chase & Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annualized rate of 8.1% if JPMorgan stock closes at or above its 80% downside threshold on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above its initial level on any quarterly determination date other than the final date.

The payout at maturity will be par plus the final coupon unless the stock finishes below the 80% downside threshold, in which case investors will be fully exposed to any losses.

Goldman, Sachs & Co. is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes will price on March 17.

The Cusip number is 36251V366.

© 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.