Published on 9/21/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10.43 million buffered contingent coupon notes linked to MSCI ACWI, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – GS Finance Corp. priced $10.43 million of buffered contingent coupon notes due Sept. 28, 2017 linked to the MSCI ACWI ex USA index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.55% if each index’s closing level is greater than or equal to 90% of its initial level on the observation date for that quarter.
The payout at maturity will be par unless the return of either index is less than negative 10%, in which case investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Buffered contingent coupon notes
|
Underlying indexes: | MSCI ACWI ex USA and S&P 500
|
Amount: | $10,434,000
|
Maturity: | Sept. 28, 2017
|
Contingent coupon: | 8.55% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless final either index closes below 90% of initial level, in which case 1% loss for each 1% lower performing index falls beyond 10%
|
Initial levels: | 247.62 for MSCI ACWI and 2,139.12 for S&P 500
|
Barrier levels: | 90% of initial levels
|
Pricing date: | Sept. 19
|
Settlement date: | Sept. 22
|
Agent: | Goldman, Sachs & Co.
|
Fees: | 0.475%
|
Cusip: | 40054KKF2
|
|
© 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.