Published on 1/14/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $10.78 million autocallable contingent coupon notes linked to Halliburton
By Angela McDaniels
Tacoma, Wash., Jan. 14 - Goldman Sachs Group, Inc. priced $10.78 million of autocallable contingent coupon notes due Jan. 28, 2015 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.1% per year if Halliburton shares close at or above the trigger level, 80% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on April 24, 2014, July 24, 2014 or Oct. 23, 2014.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the stock's decline from its initial price.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $10,776,000
|
| Maturity: | Jan. 28, 2015
|
| Coupon: | 10.1% per year, payable quarterly if Halliburton shares close at or above trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, full exposure to stock's decline from its initial price
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial share price on April 24, 2014, July 24, 2014 or Oct. 23, 2014
|
| Initial share price: | $50.52
|
| Final share price: | Average of closing share prices on Jan. 16, 2015, Jan. 20, 2015, Jan. 21, 2015, Jan. 22, 2015 and Jan .23, 2015
|
| Trigger level: | $40.416, 80% of initial share price
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.1%
|
| Cusip: | 38147QCT1
|
© 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.
