By Devika Patel
Knoxville, Tenn., Dec. 21 – GS Finance Corp. priced $3.37 million of autocallable contingent coupon equity-linked notes due Dec. 20, 2018 linked to Amazon.com, Inc. common 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 10.25% if Amazon stock closes at or above the barrier level, 75% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Amazon shares close at or above the initial share price on any quarterly valuation date from March 2017 through September 2018.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Amazon.com, Inc.
|
| Amount: | $3,365,000
|
| Maturity: | Dec. 20, 2018
|
| Coupon: | 10.25% per year, payable quarterly if Amazon shares close at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final coupon; otherwise, 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if Amazon shares close at or above initial share price on any quarterly valuation date from March 2017 through September 2018
|
| Initial share price: | $757.77
|
| Barrier level: | 75% of initial share price
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 21
|
| Agent: | Goldman, Sachs & Co. and J.P. Morgan Securities LLC
|
| Fees: | 1.9%
|
| Cusip: | 40054KS72
|
|
|
|
|
© 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.
