By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – GS Finance Corp. priced $7.93 million of trigger autocallable contingent yield notes due Dec. 31, 2021 linked to the common shares of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 8% if the stock closes at or above its barrier, 75.5% of its initial level, on the observation date for that month.
Beginning in December 2017, the notes will be automatically called at par of $10 if the stock closes at or above its initial level on any monthly observation date.
The payout at maturity will be par the stock finishes below its barrier, in which case investors will be fully exposed to the decline.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Apple Inc.
|
| Amount: | $7,933,500
|
| Maturity: | Dec. 31, 2021
|
| Contingent coupon: | 8%, payable monthly if stock closes at or above barrier on observation date for that month
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below barrier, in which case 1% loss for each 1% decline from initial level
|
| Call: | Beginning in December 2017, automatically at par if stock closes at or above initial level on any monthly observation date
|
| Initial price: | $116.76
|
| Downside threshold: | $88.15, 75.5% of initial price
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 30
|
| Agents: | Goldman Sachs & Co.
|
| Fees: | 2.85%
|
| Cusip: | 36251U509
|
|
|
© 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.
