By Kiku Steinfeld
Chicago, Aug. 2 – GS Finance Corp. priced $1.95 million of autocallable contingent coupon equity-linked notes due July 19, 2024 linked to Microsoft Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 80% of the initial price, on the determination date for that quarter, the notes will pay a contingent quarterly coupon at an annual rate of 7%.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial stock price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below 80% of its initial stock price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Autocallable contingent coupon equity-linked notes
|
Underlying stock: | Microsoft Corp. (Symbol: MSFT)
|
Amount: | $1.95 million
|
Maturity: | July 19, 2024
|
Coupon: | 7% per year, payable quarterly if stock closes at or above barrier level on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless the stock finishes below 80% of its initial level, in which case investors will lose 1% for each 1% decline
|
Call: | At par plus contingent coupon if stock closes at or above initial stock price on any quarterly determination date
|
Initial stock price: | $280.75
|
Barrier level: | 80% of initial stock price
|
Pricing date: | July 16
|
Settlement date: | July 21
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 2%
|
Cusip: | 40057HW55
|
|
© 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.