By Taylor Fox
New York, Nov. 16 – GS Finance Corp. priced $905,000 of autocallable contingent coupon equity-linked securities due Oct. 23, 2023 linked to the lesser performing of the common stock of Caterpillar Inc. and the American Depositary Shares of Alibaba Group Holding Ltd., 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 quarterly coupon at a yearly rate of 13.2% if each stock closes above the coupon barrier price, 70% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date, starting in April 2021 and ending July 2023.
If the notes are not called and the final share price of each stock is greater than or equal to the trigger price, 70% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Caterpillar Inc. and Alibaba Group Holding Ltd.
|
| Amount: | $905,000
|
| Maturity: | Oct. 23, 2023
|
| Coupon: | 13.2% per year, payable quarterly if closing price of each stock is greater than or equal to 70% of initial share price on any quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above 70% of its initial share price; otherwise, full exposure to decline of least performing stock
|
| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date starting in April 2021 and ending July 2023
|
| Initial share prices: | $168.75 for Caterpillar and $307.31 for Alibaba
|
| Coupon barrier/trigger prices: | 70% of initial share prices
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057EFV4
|
|
|
© 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.
