By Jennifer Chiou
New York, April 23 - Goldman Sachs Group, Inc. priced $9,645,000 of 0% autocallable buffered notes due April 26, 2017 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called if the fund closes at or above the initial price on either of two call observation dates, which are set for May 21, 2015 and April 21, 2016. The payout will be 108.342% of par if the notes are called on the first observation date and 115.4% of par if called on the second observation date.
If the notes are not called and the fund return is zero or positive, the payout at maturity will be the maximum settlement amount of $1,231 per $1,000 principal amount of notes.
Investors will receive par if the fund declines by up to 10% and will lose 1.1111% for each 1% decline beyond the 10% buffer.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable buffered notes
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $9,645,000
|
| Maturity: | April 26, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return is flat or positive, par plus 23.1%; par if fund falls by up to 10%; exposure to losses beyond buffer
|
| Call: | Automatically if fund closes at or above the initial price on either May 21, 2015 or April 21, 2016; payout of 108.342% of par if notes are called on the first observation date and 115.4% of par if called on the second observation date
|
| Initial level: | $41.75
|
| Pricing date: | April 21
|
| Settlement date: | April 28
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.675%
|
| Cusip: | 38148A662
|
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