By William Gullotti
Buffalo, N.Y., Jan. 22 – GS Finance Corp. priced $2.88 million of 0% autocallable ETF-linked notes due Jan. 14, 2027 tied to the Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above its call level on any quarterly observation date after six months, the notes will be called at par plus a 7.35% annualized call premium. Call level will be equal to the initial level for the first two valuation dates, stepping down to 95% of initial level for the following four valuation dates and down to 90% of initial level for the final three.
If the notes are not called and the ETF finishes at or above its 90% call level, the payout will be par plus 22.05%.
If the ETF declines by more than 10% but finishes at or above 80% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial 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: | Autocallable ETF-linked notes
|
| Underlying fund: | Industrial Select Sector SPDR Fund
|
| Amount: | $2,882,000
|
| Maturity: | Jan. 14, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the ETF finishes at or above 90% of its initial level, par plus 22.05%; if the ETF declines by more than 10% but finishes at or above 80% of initial level, par; otherwise, 1% loss for every 1% decline from initial level
|
| Call: | If the ETF closes at or above call level on any quarterly observation date after six months, notes will be called at par plus a 7.35% annualized call premium; call level will be equal to initial level for first two valuation dates, stepping down to 95% of initial level for the next four valuation dates and down to 90% of initial level for the last three
|
| Initial ETF level: | $112.12
|
| Trigger buffer level: | 80% of initial level
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 40057XTT2
|
|
|
© 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.
