By Devika Patel
Knoxville, Tenn., April 12 – GS Finance Corp. priced $2.64 million of contingent income autocallable securities due April 13, 2017 linked to the common stock of Eli Lilly and Co., according to a 424B2 filing with the Securities and Exchange Commission.
Goldman Sachs Group, Inc. is the guarantor.
If Eli Lilly shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10.1%.
The notes will be called at par of $10 plus the contingent coupon if Eli Lilly shares close at or above the initial share price on any of the first three quarterly determination dates.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Eli Lilly and Co. (Symbol: LLY)
|
| Amount: | $2,641,500
|
| Maturity: | April 13, 2017
|
| Coupon: | 10.1% per year, payable quarterly if Eli Lilly shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if Eli Lilly shares close at or above initial share price on any of the first three quarterly determination dates
|
| Initial share price: | $74.39
|
| Downside threshold: | $59.512, 80% of initial share price
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.85%
|
| Cusip: | 36250E738
|
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