Goldman Sachs plans contingent coupon autocallables linked to Apple

By Susanna Moon

Chicago, May 17 – GS Finance Corp. plans to price 0% autocallable contingent coupon equity-linked notes due June 7, 2017 linked to Apple Inc. shares, 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 Apple stock closes at or above the coupon barrier level, 74% of the initial level, on the valuation date for that quarter.

The notes will be called at par plus the contingent coupon if Apple shares close at or above the initial share price on any quarterly valuation date.

If the stock finishes at or above the 74% barrier level, the payout at maturity will be $1,025 for each $1,000 principal amount.

Otherwise, investors will be fully exposed to any losses.

Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.

The notes will price on May 20 and settle on May 25.

The Cusip number is 40054KCQ7.

© 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.