By Tali Rackner
Norfolk, Va., July 8 – GS Finance Corp. priced $1.51 million of contingent income autocallable securities due July 5, 2019 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If Facebook 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 10.75%.
The notes will be called at par of $10 plus the contingent coupon if Facebook shares close at or above the initial share price on any of the first 11 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 the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
|
| Amount: | $1,514,150
|
| Maturity: | July 5, 2019
|
| Coupon: | 10.75% per year, payable quarterly if shares close at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above downside threshold level, par plus final contingent coupon; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any of the first 11 quarterly determination dates
|
| Initial share price: | $114.19
|
| Downside threshold: | $91.352, 80% of initial share price
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.675%
|
| Cusip: | 36250Y346
|
|
|
|
|
© 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.
