By Susanna Moon
Chicago, Dec. 17 – Goldman Sachs Group, Inc. priced $3.87 million of autocallable contingent coupon equity-linked notes due Dec. 29, 2016 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if Bank of America stock closes at or above the barrier price, 78.75% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Bank of America shares close at or above the initial share price on any quarterly valuation date.
If Apple stock finishes at or above the 78.75% barrier level, the payout at maturity will be $1,025 for each $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are the agents.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Bank of America Corp. (Symbol: BAC)
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| Amount: | $3,869,000
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| Maturity: | Dec. 29, 2016
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| Coupon: | 10%, payable quarterly if Bank of America stock closes at or above barrier price, 80% of initial share price, on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is at least 78.75% of initial price, par plus 2.5%; otherwise, full exposure to any losses
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| Call: | At par plus contingent coupon if Bank of America shares close at or above initial share price on any quarterly valuation date
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| Initial share price: | $16.73
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| Trigger level: | 78.75% of the initial stock price
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Agents: | Goldman Sachs & Co. and J.P. Morgan Securities LLC
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| Fees: | 1.1%
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| Cusip: | 38148TKK4
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