Chicago, Sept. 15 – GS Finance Corp. priced $1.4 million of callable contingent coupon equity-linked notes due Feb. 16, 2024 linked to the common stock of KLA Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon at an annual rate of 14.68% if the stock closes above the 73.9% coupon trigger price. However, the term of the notes is less than one year. The first contingent coupon will be $36.7 and the second will be $24.467.
The notes are callable at par plus the coupon due on the first coupon payment date.
If the stock gains or ends above its 73.9% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked notes
|
| Underlying stock: | KLA Corp.
|
| Amount: | $1.4 million
|
| Maturity: | Feb. 16, 2024
|
| Coupon: | 14.68% annual rate, payable quarterly if stock closes above coupon trigger price; second coupon payment term is not a full quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
|
| Call: | At par plus coupon on first coupon payment date
|
| Initial level: | $494.16
|
| Coupon trigger level: | 73.9% of initial level
|
| Downside threshold: | 73.9% of initial level
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 40057WA56
|
|
|
© 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.
