By Kiku Steinfeld
Chicago, July 13 – GS Finance Corp. priced $2.34 million of 0% autocallable ETF-linked notes due June 4, 2024 tied to the Invesco S&P 500 High Beta ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus 10.6% per year if the ETF closes at or above its initial level on either of two annual observation dates.
If the notes are not called and the ETF finishes above its initial level, the payout will be par plus the ETF’s return.
If the ETF finishes flat, the payout will be par. If the ETF falls, investors will be fully exposed to the ETF’s decline.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable ETF-linked notes
|
| Underlying ETF: | Invesco S&P 500 High Beta
|
| Amount: | $2,339,000
|
| Maturity: | June 4, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes above its initial level, par plus the ETF’s return; if the ETF finishes flat, par; if the ETF falls, investors will be exposed to the decline of the ETF
|
| Call: | At par plus 10.6% per year if the ETF closes at or above its initial level on June 1, 2022 or May 25, 2023
|
| Initial level: | $74.87
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 40057HC81
|
© 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.
