By Marisa Wong
Morgantown, W.Va., Oct. 20 – Goldman Sachs Group, Inc. priced $327,000 of trigger phoenix autocallable optimization securities due Oct. 22, 2020 linked to Occidental Petroleum Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at annual rate of 8% if the stock closes at or above its coupon barrier level, 72% of its initial level, on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any interest payment date beginning in October 2016.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 72% trigger level, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Occidental Petroleum Corp. (Symbol: OXY)
|
| Amount: | $327,000
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| Maturity: | Oct. 22, 2020
|
| Coupon: | Contingent monthly coupon at annual rate of 8% if the stock closes at or above its coupon barrier level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus the final contingent coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par if the stock closes at or above its initial level on any interest payment date beginning in October 2016
|
| Initial share price: | $74.23
|
| Barrier/trigger price: | $53.45, 72% of initial price
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.85%
|
| Cusip: | 38148X456
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