By Taylor Fox
New York, Oct. 22 – GS Finance Corp. priced $1.2 million of autocallable contingent coupon notes due March 27, 2028 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon if each index closes at or above its 85% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 5%.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus any coupon due unless either index finishes below 80% of its initial level, in which case investors will be exposed to the decline of the least performing index from its initial level beyond the 20% buffer.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $1,198,000
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Maturity: | March 27, 2028
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Contingent coupon: | 5% annual rate, payable monthly if each index closes at or above coupon trigger level on the determination date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless either index finishes below buffer level, in which case investors will be exposed to the decline of the least performing index from its initial level beyond 20% buffer
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after one year
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Initial index levels: | 1,536.779 for Russell, 3,319.47 for S&P
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Coupon trigger levels: | 85% of initial levels
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Buffer levels: | 80% of initial levels
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Pricing date: | Sept. 18
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Settlement date: | Sept. 23
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.15%
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Cusip: | 40057CVD0
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