By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – GS Finance Corp. priced $25.35 million of trigger autocallable contingent yield notes due Jan. 25, 2024 linked to the SPDR S&P 500 ETF Trust and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each ETF closes at or above its initial level on any observation date after six months.
The payout at maturity will be par plus any coupon due unless either ETF finishes below the 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying ETFs: | SPDR S&P 500 ETF Trust and SPDR S&P Regional Banking ETF
|
Amount: | $25,349,240
|
Maturity: | Jan. 25, 2024
|
Coupon: | 7%, payable quarterly if each ETF closes at or above coupon barrier level on observation date
|
Price: | Par of $10
|
Call: | At par plus contingent coupon if each ETF closes at or above initial level on any observation date after six months
|
Payout at maturity: | Par plus any coupon unless ETF closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing ETF from initial level
|
Initial levels: | $382.88 for SPDR S&P 500, $57.96 for Regional Banking
|
Coupon barriers: | $268.02 for SPDR S&P 500, $40.57 for Regional Banking, 70% of initial levels
|
Downside thresholds: | $229.73 for SPDR S&P 500, $34.78 for Regional Banking, 60% of initial levels
|
Pricing date: | Jan. 22
|
Settlement date: | Jan. 27
|
Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
Fees: | 2.175%
|
Cusip: | 36259U576
|
© 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.