| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for GS Finance Corp. > News item |
JPMorgan prices $9.01 million index-linked securities; GS Finance offers $5.44 million notes
By Sheri Kasprzak
New York, Aug. 4 – It was a more subdued session for structured products offerings, led by a $9.01 million offering of contingent income autocallable securities priced through JPMorgan Chase Financial Co. LLC and linked to indices.
The securities are linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index.
The notes are due Aug. 2, 2018 and pay a contingent payment quarterly at an annualized rate of 8% if each index closes at or above its 65% downside threshold level on each day during that quarter.
The notes are redeemable at par of $10 plus the contingent payment if each index closes at or above the initial level on any determination date other than the final date.
Payout at maturity is par plus the final coupon unless any index finishes below the 65% downside threshold, in which case investors are fully exposed to the losses of the least-performing index.
J.P. Morgan Securities LLC was the agent for the deal with Morgan Stanley Smith Barney LLC distributing.
GS Finance prices notes
Elsewhere during the session, GS Finance Corp. priced $5.44 million of contingent income callable securities, also linked to the least performing of the S&P 500, Russell 2000 and Euro Stoxx 50 indexes.
The notes are due Aug. 2, 2018 and pay a contingent quarterly coupon at an annual rate of 8.9% if each index closes at or above its downside threshold level of 65% of its initial index level, on each day during that quarter.
The notes are callable at par on any interest payment date.
Payout at maturity is par unless any index finishes below the 65% downside threshold level, in which case investors are fully exposed to any losses of the worst-performing index.
Goldman Sachs & Co. was the underwriter with Morgan Stanley Wealth Management as the dealer.
© 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.