By William Gullotti
Buffalo, N.Y., Nov. 6 – GS Finance Corp. priced $1.49 million of autocallable contingent coupon ETF-linked notes due Nov. 4, 2026 tied to the VanEck Junior Gold Miners ETF and the VanEck Gold Miners ETF, 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 10% if each ETF closes at or above the coupon trigger level, 51.5% of the initial level, on the relevant observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus coupon if each ETF closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called and each ETF finishes at or above 51.5% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be exposed to the laggard ETF’s decline from its initial level.
Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying funds: | VanEck Junior Gold Miners ETF, VanEck Gold Miners ETF
|
| Amount: | $1,486,000
|
| Maturity: | Nov. 4, 2026
|
| Coupon: | 10% annualized rate, payable quarterly if each ETF closes at or above coupon trigger level, on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above trigger buffer level, par plus final coupon; otherwise, 1% loss for every 1% decline of laggard ETF from initial level
|
| Call: | Automatically at par plus coupon if each ETF closes at or above its initial level on any quarterly observation date after six months
|
| Initial ETF levels: | $34.17 for Junior Gold Miners, $28.77 for Gold Miners
|
| Trigger buffer levels: | 51.5% of initial levels
|
| Coupon trigger levels: | 51.5% of initial levels
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 2
|
| Agents: | Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 40057WTR8
|
|
|
© 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.
