By Susanna Moon
Chicago, May 4 – GS Finance Corp. priced $750,000 of autocallable contingent coupon notes due May 3, 2021 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if the index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any contingent coupon payment date from October 2017 through January 2021.
The payout at maturity will be par plus the contingent coupon unless the index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying index: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $750,000
|
| Maturity: | May 3, 2021
|
| Coupon: | 8.4% per year, payable quarter if index closes at or above 70% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below 70% trigger, in which case 1% loss for each 1% decline
|
| Call: | At par if each index closes at or above its initial level on any interest payment date from October 2017 through January 2021
|
| Initial level: | 152.4474
|
| Trigger level: | 70% of initial level
|
| Pricing date: | April 26
|
| Settlement date: | May 3
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.425%
|
| Cusip: | 40054L7C2
|
|
|
|
|
© 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.
