By William Gullotti
Buffalo, N.Y., Oct. 1 – GS Finance Corp. priced $7.16 million of trigger autocallable contingent yield notes due July 17, 2026 linked to the SPDR S&P 500 ETF Trust and SPDR S&P Biotech ETF, 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 8.86% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the coupon if each ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above the 70% downside threshold. If any ETF falls beyond the threshold, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | SPDR S&P 500 ETF Trust, SPDR S&P Biotech ETF
|
| Amount: | $7,158,300
|
| Maturity: | July 17, 2026
|
| Coupon: | 8.86%, payable quarterly if each ETF closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If each ETF finishes above downside threshold, par plus final coupon; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | $436.24 for S&P ETF, $125.95 for Biotech
|
| Coupon barriers: | $305.37 for S&P ETF, $88.17 for Biotech; 70% of initial levels
|
| Downside thresholds: | $305.37 for S&P ETF, $88.17 for Biotech; 70% of initial levels
|
| Pricing date: | July 14
|
| Settlement date: | July 19
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 36261B319
|
|
|
© 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.
