GS Finance eyes trigger autocallable contingent yield note on indexes

By Devika Patel

Knoxville, Tenn., July 7– GS Finance Corp. plans to price trigger autocallable contingent yield notes due June 30, 2027 linked to the Euro Stoxx 50 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.

The notes will pay a contingent quarterly coupon at an annual rate of between 6% and 7% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning July 16, 2018.

The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the downside threshold level, 50% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 36253M349) will price on July 14 and settle on July 19.

© 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.