By Wendy Van Sickle
Columbus, Ohio, Dec. 11 – GS Finance Corp. priced $500,000 of 0% autocallable equity-linked notes due Dec. 1, 2025 linked to the least performing of the stocks of Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus 27% a year if each stock closes at or above its call level on any quarterly call observation date; the call level is 110% of the initial level.
If all three stocks finish at or above 110% of their initial value, the payout at maturity will be par plus 135%.
If the worst performing stock finishes below 110% of its initial value but not lower than 100% of its initial value, the payout at maturity will be par.
If any stock falls, investors will be exposed to the decline of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable equity-linked notes
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Underlying stocks: | Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co.
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Amount: | $500,000
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Maturity: | Dec. 1, 2025
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 27% a year if each stock closes above 110% call level on any quarterly call observation date
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Payout at maturity: | If worst performer finishes above 110% of initial value, par plus 135%; if worst performer finishes below 110% but above 100% of initial value, par; otherwise exposure to losses of worst performer
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Initial prices: | $29.03 for BofA, $57.06 for Citi and $122.03 for JPMorgan
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Pricing date: | Nov. 25
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Settlement date: | Dec. 1
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.6%
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Cusip: | 40057EPA9
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