GS Finance plans contingent coupon autocallables tied to indexes, ETF

By Angela McDaniels

Tacoma, Wash., Oct. 23 – GS Finance Corp. plans to price autocallable contingent coupon notes due Nov. 4, 2024 linked to the iShares MSCI EAFE exchange-traded fund, the Russell 2000 index and 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 quarter, the notes will pay a contingent coupon at the rate of 8% per year if each underlier closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.

Beginning in October 2018, the notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless any underlier finishes below its trigger level, in which case investors will be fully exposed to the decline of the least-performing underlier from its initial level.

Goldman Sachs & Co. is the underwriter.

The notes will price Oct. 26.

The Cusip number is 40054LXX7.

© 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.