Goldman Sachs plans trigger phoenix autocallables linked to Barclays

By Susanna Moon

Chicago, Aug. 12 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due Aug. 20, 2020 linked to the American Depository Shares of Barclays plc, 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, 75% to 80% 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 August 2016.

The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 75% to 80% trigger level, in which case investors will be fully exposed to any losses.

Goldman Sachs & Co. is the agent.

The notes will price on Aug. 14 and settle on Aug. 19.

The Cusip number is 38148X191.

© 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.