By William Gullotti
Buffalo, N.Y., July 6 – GS Finance Corp. priced $1.25 million of autocallable contingent coupon index-linked notes due Aug. 5, 2024 tied to the Nasdaq-100 Technology Sector 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 monthly coupon at an annual rate of 8% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the index closes at or above its initial index level on any monthly call observation date after six months.
If the notes are not called and the index finishes at or above the 70% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the decline of the index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying index: | Nasdaq-100 Technology Sector index
|
| Amount: | $1,248,000
|
| Maturity: | Aug. 5, 2024
|
| Coupon: | 8% annualized rate, payable monthly if the index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger buffer level, par plus final coupon; otherwise, full exposure to decline from initial level
|
| Call: | At par plus coupon if the index closes at or above its initial level on any monthly call observation date after six months
|
| Initial index level: | 7,937.732
|
| Coupon trigger level: | 70% of initial level
|
| Trigger buffer level: | 70% of initial level
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.15%
|
| Cusip: | 40057T3Q5
|
|
|
© 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.
