By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – GS Finance Corp. priced $2 million of callable contingent coupon equity-linked notes due Sept. 6, 2023 linked to the shares of Halliburton Co., 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 quarterly coupon at an annualized rate of 15% for the first two quarters and 10% for the final quarter if the stock closes at or above the coupon barrier price, 57.2% of the initial price, on the valuation date for that period.
After six months, the notes will be callable at par plus any contingent coupon otherwise due on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 57.2% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon equity-linked notes
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Underlying stock: | Halliburton Co.
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Amount: | $2 million
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Maturity: | Sept. 6, 2023
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Coupon: | 15% per year for first two quarters, 10% per year for final quarter, payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
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Call: | At par plus any coupon due on any quarterly call valuation date after six months
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Initial share price: | $38.35
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Coupon barrier price: | 57.2% of initial share price
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Barrier level: | 57.2% of initial share price
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Pricing date: | Dec. 30
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Settlement date: | Jan. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.6%
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Cusip: | 40057PB68
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