By Tali Rackner
Norfolk, Va., June 10 – GS Finance Corp. priced $4.52 million of contingent income autocallable securities due May 31, 2019 linked to the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If Alphabet shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.1%.
The notes will be called at par of $10 plus the contingent coupon if Alphabet shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Alphabet, Inc.
|
| Amount: | $4,522,900
|
| Maturity: | May 31, 2019
|
| Coupon: | 8.1% per year, payable quarterly if Alphabet closes at or above its downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if each Alphabet finishes at or above downside threshold level; otherwise, full exposure to decline
|
| Call option: | At par if Alphabet shares close at or above the initial share price on any quarterly determination date other than final one
|
| Initial share price: | $747.60
|
| Downside threshold: | $598.08; 80% of initial price
|
| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.675%
|
| Cusip: | 36250Y205
|
|
|
|
|
© 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.
