By Wendy Van Sickle
Columbus, Ohio, April 22 – GS Finance Corp. priced $12.27 million of contingent variable coupon ETF-linked notes due Oct. 21, 2026 linked to the performance of the SPDR Gold Trust 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 quarterly coupon that will accrue at a rate of 8% per year for each trading day that each ETF closes within the trigger range during the observation period.
The trigger range is less than or equal to the 110% upper trigger level but greater than or equal to the 73% buffer level.
If each ETF finishes above its upper trigger, the payout at maturity will be par plus 1.1 times the gain of the worst performer above 10%, subject to a maximum return of par plus 27%.
If the worst performer finishes at or below its upper trigger but at or above buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 27%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent variable coupon ETF-linked notes
|
| Underlying funds: | SPDR Gold Trust, VanEck Gold Miners ETF
|
| Amount: | $12.27 million
|
| Maturity: | Oct. 21, 2026
|
| Coupon: | 8% per year accrual rate for each trading day that each ETF closes within the trigger range during the relevant observation period, paid quarterly; trigger range is less than or equal to upper trigger level but greater than or equal to buffer level
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes above upper trigger level, par plus 1.1 times the gain of the worst performer above 10%, capped at par plus 27%; if the worst performer finishes at or below upper trigger but at or above buffer level, par; otherwise, lose 1% for each 1% decline of worst performer beyond 27%
|
| Initial levels: | $216.89 for SPDR, $33.76 for VanEck
|
| Upper trigger levels: | 110% of initial levels
|
| Buffer levels: | 73% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 19
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40058A4C5
|
|
|
|
|
© 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.
