By Taylor Fox
New York, Sept. 14 – GS Finance Corp. priced $3 million of autocallable contingent coupon equity-linked notes due Sept. 18, 2023 linked to the common stocks of Nvidia Corp. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the worst performing stock closes at or above the coupon barrier level, 60% of the initial price, the notes will pay a contingent quarterly coupon at an annual rate of 19.4%.
The notes will be called at par plus the contingent coupon if both stocks close at or above the initial stock price on any determination date after six months.
The payout at maturity will be par plus the coupon unless the worst performing stock finishes below 60% of its initial price, 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: | Nvidia Corp. and Apple Inc.
|
| Amount: | $3 million
|
| Maturity: | Sept. 18, 2023
|
| Coupon: | 19.4% per year, payable quarterly if each stock closes at or above barrier level on the quarterly valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the worst performing stock finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of that stock
|
| Call: | At par plus contingent coupon if both stocks close at or above initial stock price on any quarterly determination date after six months
|
| Initial stock price: | $117.32 for Apple, $508.60 for Nvidia
|
| Barrier levels: | 60% of initial stock price
|
| Pricing date: | Sept. 9
|
| Settlement date: | Sept. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.65%
|
| Cusip: | 40057CV99
|
|
|
© 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.
