GS Finance plans 10-year autocallable jump securities on S&P 500

By Emma Trincal

New York, Oct. 18 – GS Finance Corp. plans to price 0% jump securities with autocallable feature due Oct. 26, 2028 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index closes at or above its initial level on any annual call observation date, the notes will be automatically called at par plus the call premium of 9.76% per year. The annual call observation dates start on Oct. 24, 2019.

At maturity, if the index return is positive or zero, the payout will be par plus the premium amount of 97.6%.

If the index ends below its initial level, investors will be fully exposed to losses.

Goldman Sachs & Co. is the agent, with Morgan Stanley Wealth Management as dealer.

The notes are expected to price on Oct. 22 and settle on Oct. 25.

The Cusip number is 36256M460.

© 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.