Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Goldman Sachs Group, Inc. > News item |
GS Finance to price contingent coupon autocallables on three indexes
By Marisa Wong
Morgantown, W.Va., June 7 – GS Finance Corp. plans to price autocallable contingent coupon notes due June 11, 2021 linked to the S&P 500 index, Euro Stoxx 50 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at a rate of 7.7% per year if all the indexes close at or above their coupon trigger levels, 70% of their initial levels, on the observation date for that quarter.
Starting in December 2018 and ending in March 2021, the notes will be automatically called at par if all the indexes close at or above their initial levels on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and any index finishes below its initial level, in which case investors will be exposed to the decline of the least performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
The notes are expected to price on June 8.
The Cusip number is 40055QF56.
© 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.