GS Finance plans contingent coupon autocalls on SPDR Oil & Gas, QQQ

New York, June 11 – GS Finance Corp. plans to price 9.25% autocallable contingent coupon notes due June 19, 2020 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each underlying fund closes at or above its 65% coupon barrier on the observation date for that quarter.

Starting in December 2018, the notes will be automatically called at par if each fund closes at or above its initial level on any quarterly review date.

The payout at maturity will be par unless either fund closes below its 60% trigger level on any day during the life of the notes, in which case investors will be exposed to any losses of the worse performing fund.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

The notes will price on June 12 and settle on June 15.

The Cusip number is 40055QFA5.

© 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.