By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – GS Finance Corp. priced $1 million of autocallable contingent coupon notes due Feb. 14, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes will pay a contingent coupon at an annual rate of 11.7% if the index closes at or above its barrier level, 80% of its initial level, on the observation date for that six months.
The notes will be automatically called at par if each underlying closes at or above its initial level on any monthly call date after a year.
The payout at maturity will be par plus the final coupon unless the index return is less than negative 20%, in which case investors will be exposed to the decline of the index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying index | Euro Stoxx 50 index
|
Amount: | $1 million
|
Maturity: | Feb. 14, 2023
|
Coupon: | 11.7% per year, payable semiannually if index closes at or above 80% barrier on valuation date for that six months
|
Price: | Par
|
Payout at maturity: | If index finishes at or above 80% barrier level, par; otherwise, full exposure to any losses of index
|
Call: | At par plus contingent coupon if index closes at or above initial level on any monthly call date after a year
|
Initial level: | 3,325.99
|
Barrier level: | 2,660.792; 80% of initial level
|
Pricing date: | Feb. 9
|
Settlement date: | Feb. 14
|
Underwriter: | Goldman Sachs & Co. LLC
|
Fees: | 0.35%
|
Cusip: | 40055AL39
|
|
© 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.