By Wendy Van Sickle
Columbus, Ohio, June 23 – GS Finance Corp. priced $7.99 million of autocallable contingent coupon notes due June 25, 2019 linked to the least performing of the iShares MSCI Emerging Markets ETF, the SPDR S&P MidCap 400 ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each asset closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any coupon determination date from September 2017 through March 2019.
The payout at maturity will be par plus the contingent coupon unless any asset finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing asset.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF, SPDR S&P MidcCap 400 ETF and Nasdaq-100 index
|
| Amount: | $7,992,000
|
| Maturity: | June 25, 2019
|
| Coupon: | 9.1% per year, payable quarterly if each asset closes at or above 75% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below 75% trigger, in which case full exposure to losses of worst performing asset
|
| Call: | At par if each asset closes at or above its initial level on any interest payment date from September 2017 through March 2019
|
| Initial levels: | $40.98 for Emerging Markets, $317.36 for MidCap 400, 5,726.311 for Nasdaq-100
|
| Coupon barrier/triggers: | 75% of initial levels
|
| Pricing date: | June 20
|
| Settlement date: | June 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.925%
|
| Cusip: | 40054LG32
|
|
|
|
|
© 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.
