By William Gullotti
Buffalo, N.Y., July 8 – GS Finance Corp. priced $553,000 of 0% autocallable ETF-linked notes due July 8, 2026 tied to the iShares Silver Trust and the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF closes at or above its initial level on any annual call observation date, the notes will be called at par plus an 8% annualized call premium.
If the notes are not called and each ETF finishes at or above its initial level, the payout will be par plus 40%.
If the worst performer finishes above 70% of its initial level, the payout will be par.
If any ETF falls by more than 30%, investors will be exposed to the decline of the lesser-performing ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable ETF-linked notes
|
| Underlying funds: | iShares Silver Trust, SPDR Gold Trust
|
| Amount: | $553,000
|
| Maturity: | July 8, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each ETF finishes at or above its initial level, par plus 40%; if worst performer finishes above 70% of initial level, par; if any ETF falls by more than 30%, investors will be exposed to the decline of the lesser-performing ETF from its initial level
|
| Call: | If each ETF closes at or above initial level on any annual observation date, notes will be called at par plus an 8% annualized call premium
|
| Initial ETF levels: | $24.11 for Silver, $166.20 for Gold
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.125%
|
| Cusip: | 40057HPS3
|
|
|
© 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.
