GS Finance plans trigger autocallable contingent yield notes on Apple

By Sarah Lizee

Olympia, Wash., March 19 – GS Finance Corp. plans to price trigger autocallable contingent yield notes due March 24, 2022 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above its coupon barrier, 69% to 72% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date beginning in Sept. 20.

The payout at maturity will be par plus the final coupon unless the stock finishes below the downside threshold level, 69% to 72% of its initial level, in which case investors will lose 1% for every 1% decline.

Goldman Sachs & Co. is the agent with UBS Financial Services Inc. as selling agent.

The notes will price on March 20.

The Cusip number is 36257D394.

© 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.