By Wendy Van Sickle
Columbus, Ohio, June 8 – GS Finance Corp. priced $1.59 million of autocallable contingent coupon equity-linked securities due June 22, 2023 linked to the stock performance of Apple 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 annualized rate of 12% if the stock closes at or above the coupon barrier price, 65.9% of the initial price, on the valuation date for that period, plus any previously unpaid coupon.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any quarterly valuation date.
If the stock finishes at or above the 65.9% final barrier price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the stock.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying stock: | Apple Inc.
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Amount: | $1,585,000
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Maturity: | June 22, 2023
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Coupon: | 12% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period, plus any previously unpaid coupon
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Price: | Par
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Payout at maturity: | Par if stock closes above barrier level; otherwise, full exposure to losses of stock
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Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date
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Initial share price: | $145.38
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Coupon barrier price: | 65.9% of initial level
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Final barrier price: | 65.9% of initial level
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Pricing date: | June 3
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Settlement date: | June 8
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Agents: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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Fees: | 1%
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Cusip: | 40057MC23
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