Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for iShares Silver trust > News item |
GS Finance plans callable contingent coupon notes linked to two ETFs
By Devika Patel
Knoxville, Tenn., June 26 – GS Finance Corp. plans to price callable contingent coupon notes due July 6, 2022 linked to the least performing of the iShares Silver Trust and the SPDR Gold Trust, according to a 424B2 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 9.6% if each ETF closes at or above 70% of its initial level on the coupon observation date for that quarter.
Beginning in October 2020 and ending in April 2022, the notes are callable in whole but not in part at par plus the contingent coupon on any coupon payment date.
The payout at maturity will be par unless either ETF finishes below 70% of its initial level, in which case investors will lose 1% for each 1% loss of the worst performing ETF from its initial level.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40057CD99) will price on June 30 and settle on July 6.
© 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.