By Wendy Van Sickle
Columbus, Ohio, July 21 – GS Finance Corp. priced $1.93 million of contingent income autocallable securities due Sept. 6, 2022 linked to the common stock of Amazon.com, Inc., 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 an annual rate of 8.9% if the stock closes at or above the 77% downside threshold on the related determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly determination date after six months.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 77% downside threshold, in which case investors will lose 1% for each 1% share price decline.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Amazon.com, Inc.
|
| Amount: | $1,926,000
|
| Maturity: | Sept. 6, 2022
|
| Coupon: | 8.9% annual rate, payable quarterly if stock closes at or above downside threshold level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to share price decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly determination date after six months
|
| Initial share price: | $3,230.11
|
| Downside threshold: | $2,789.52; 77% of initial price
|
| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.75%
|
| Cusip: | 40057HEA4
|
© 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.
