By Kiku Steinfeld
Chicago, May 13 – GS Finance Corp. priced $2.73 million of autocallable contingent coupon equity-linked notes due May 12, 2022 linked to McDonald’s Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the coupon trigger level, 70% of the initial price, on the determination date for a quarter, the notes will pay a contingent quarterly coupon at an annual rate of 11.4%.
Beginning in November 2020 and ending in February 2022, the notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | McDonald’s Corp.
|
| Amount: | $2,726,000
|
| Maturity: | May 12, 2022
|
| Coupon: | 11.4% per year, payable quarterly if shares close at or above trigger level on a related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline
|
| Call: | Beginning in November 2020 and ending in February 2022, at par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $181.23
|
| Trigger level: | 75% of initial share price
|
| Pricing date: | May 8
|
| Settlement date: | May 13
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.9%
|
| Cusip: | 40057EB97
|
© 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.
