By William Gullotti
Buffalo, N.Y., April 25 – GS Finance Corp. sold $2.18 million of 0% market-linked autocallable securities with contingent downside due April 23, 2026 linked to the stock performance of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly interest payment at the rate of 14.75% per year if the stock closes at or above the coupon barrier level, 50% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus coupon if the stock closes at or above initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the stock finishes at or above its 50% threshold level. Otherwise, investors will be fully exposed to the decline of the stock from its initial level.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
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Underlying stock: | Nvidia Corp.
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Amount: | $2.18 million
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Maturity: | April 23, 2026
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Coupon: | 14.75% annual rate, payable quarterly if the stock closes at or above the coupon barrier level on the relevant observation date
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Level: | Par
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Payout at maturity: | Par plus final coupon if the stock finishes at or above its threshold level; otherwise, full exposure to decline of the stock from initial level
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Call: | Automatically at par plus coupon if the stock closes at or above initial level on any quarterly observation date after six months
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Initial level: | $279.31
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Coupon barrier: | 50% of initial level
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Threshold level: | 50% of initial level
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Pricing date: | April 19
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Settlement date: | April 24
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Agents: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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Fees: | 2.325%
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Cusip: | 40057RB31
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