GS Finance to price contingent income autocallable notes on Facebook

By Wendy Van Sickle

Columbus, Ohio, March 14 – GS Finance Corp. plans to price contingent income autocallable securities due March 22, 2018 linked to the class A common stock of Facebook, Inc., according to an FWP 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 8.15% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial price on any of the first three coupon determination dates.

The payout at maturity will be par of $10 plus the final coupon unless the shares finish below the downside threshold level, in which case investors will lose 1% for each 1% decline.

Goldman Sachs & Co. is the underwriter.

The notes (Cusip: 36251V358) will price on March 17 and settle three business days after pricing.

© 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.