By Kiku Steinfeld
Chicago, Oct. 10 – GS Finance Corp. priced $40,000 of autocallable contingent coupon index-linked notes due Aug. 23, 2023 tied to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, 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 12.25% if each index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after six months.
If the notes are not called and each index closes at or above its initial level the payout will be par.
Investors will also receive par if no index closes below 70% of its initial value on any day during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Autocallable contingent coupon index-linked notes
|
Underlying indexes: | S&P index, Russell 2000 index, Nasdaq-100 index
|
Amount: | $40,000
|
Maturity: | Aug. 23, 2023
|
Coupon: | 12.25% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par if all indexes close above initial level; par if no index closes below trigger buffer level during the life of the notes; otherwise, full exposure to losses of worst performer
|
Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months
|
Initial index levels: | 4,475.01 for S&P, 2,079.311 for Russell, 14,603.64 for Nasdaq
|
Trigger buffer level: | 70% of initial levels
|
Coupon trigger level: | 80% of initial levels
|
Pricing date: | Feb. 16
|
Settlement date: | Feb. 22
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 0.375%
|
Cusip: | 40057L4P3
|
|
© 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.