By Rebecca Melvin
New York, May 29 – GS Finance Corp. priced $5.78 million of 0% bearish autocallable index-linked notes due May 12, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a call premium amount of 4% (8% per annum) on each semiannual call observation date if the closing level of the S&P 500 index on that date is less than or equal to the initial index level of 2,945.64.
If the notes are not called and the index finishes at or below 115% of its initial level, the payout will be a maximum settlement amount of $1,160 per $1,000 principal amount.
If the underlier is greater than 115% of the initial level, the payout will be par plus the product of $1,000 times the underlier return, resulting in a negative return for the investor.
J.P. Morgan Securities LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $5.78 million
|
| Maturity: | May 12, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | $1,160 if index finishes at or below 115% of initial level, otherwise 1% loss for each 1% increase from the initial level
|
| Call: | Automatically at par plus an 8% per annum call premium on a semiannual call observation date if the index is less than or equal to its initial level
|
| Initial level: | 2,945.64
|
| Pricing date: | May 3
|
| Settlement date: | May 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Cusip: | 40056FG33
|
|
|
© 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.
