By Sarah Lizee
Olympia, Wash., March 20 – GS Finance Corp. priced $4 million of 0% bearish barrier early redeemable market-linked notes with daily barrier observation due March 23, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
A barrier event will occur if the index’s closing level is less than 90% of the initial index level on any trading day during the life of the notes.
If a barrier event occurs, the notes will be redeemed and holders will receive par plus 0.65%.
If a barrier event has not occurred and the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 0.65%. If the final index level is less than the initial index level by up to 10%, the payout will be par plus the absolute value of the index return.
If the final index level is less than the initial level by more than 10%, the payout will be par plus 0.65%.
UBS Financial Services Inc. and Goldman Sachs & Co. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish barrier early redeemable market-linked notes with daily barrier observation
|
| Underlying index: | S&P 500
|
| Amount: | $4 million
|
| Maturity: | March 23, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and the final index level is greater than or equal to the initial index level, par plus 0.65%; if the final index level is less than the initial index level by up to 10%, par plus the absolute value of the index return; if the final index level is less than the initial level by more than 10%, par plus 0.65%
|
| Call: | At par plus 0.65% if the index closes below the lower barrier on any day during the life of the notes
|
| Initial index level: | 2,832.94
|
| Lower barrier: | 90% of initial level
|
| Pricing date: | March 18
|
| Settlement date: | March 21
|
| Agents: | UBS Securities LLC and Goldman Sachs & Co.
|
| Fees: | 1.1%
|
| Cusip: | 40056F4B8
|
© 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.
