By Kiku Steinfeld
Chicago, Dec. 6 – GS Finance Corp. priced $1.6 million of autocallable contingent coupon equity-linked securities due Nov. 26, 2024 linked to the common stocks of DraftKings Inc., DocuSign, Inc. and Marvell Technology, Inc., 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 monthly coupon at a yearly rate of 11.35% if each stock closes above the barrier price, 70% of the initial price, on the determination date for that month.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date, after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, 70% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | DraftKings Inc., DocuSign, Inc. and Marvell Technology, Inc.
|
| Amount: | $1,599,000
|
| Maturity: | Nov. 26, 2024
|
| Coupon: | 11.35% per year, payable monthly if closing price of each stock is greater than or equal to 70% of initial share price on monthly determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above 70% of its initial share price; otherwise, full exposure to decline of least performing stock
|
| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date after six months
|
| Initial share prices: | $263.34 for DocuSign, $36.14 for DraftKings and $74.58 for Marvell
|
| Barrier prices: | 70% of initial share prices
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057JWK8
|
|
|
© 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.
