Goldman plans contingent income autocallable notes linked to Facebook

By Susanna Moon

Chicago, Aug. 5 – GS Finance Corp. plans to price contingent income autocallable securities due Aug. 15, 2019 linked to the class A common stock of Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above its downside threshold level, 80% of its initial level, on the review date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any of the first 11 coupon determination dates.

The payout at maturity will be par Facebook shares finish below its 80% downside threshold level, in which case investors will be fully exposed to any losses.

Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is the dealer.

The notes will price on Aug. 12.

The Cusip number is 36250Y510.

© 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.