GS plans trigger autocallable contingent yield notes linked to indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – GS Finance Corp. plans to price trigger autocallable contingent yield notes due Dec. 31, 2026 linked to the MSCI EAFE index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

Each quarter, the notes pay a contingent coupon at an annual rate of 7.4% to 8.4% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

Beginning in December 2017, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless either index finishes below its downside threshold level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.

Goldman Sachs & Co. is the underwriter.

The notes will price Dec. 28.

The Cusip number is 36251U483.

© 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.