By Kiku Steinfeld
Chicago, Sept. 17 – GS Finance Corp. priced $2.91 million of callable contingent coupon equity-linked notes due June 29, 2023 linked to the common stock of Barrick Gold Corp., according to a 424B2 filing with the Notes and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.5% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes can be called at par plus the coupon at the option of the issuer on any quarterly payment date.
If the notes are not called and the final share price is greater than or equal to the 70% final barrier price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the stock price from its initial share price.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon equity-linked notes
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Underlying stock: | Barrick Gold Corp.
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Amount: | $2,908,000
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Maturity: | June 29, 2023
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Coupon: | 10.5% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
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Price: | Par
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Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, full exposure to decline in the stock
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Call option: | At par plus any coupon on any quarterly coupon payment date
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Initial share price: | $20.89
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Coupon barrier level: | 70% of initial level
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Final barrier level: | 70% of initial level
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.75%
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Cusip: | 40057HQ94
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