By Kiku Steinfeld
Chicago, Nov. 10 – GS Finance Corp. priced $500,000 of 0% autocallable contingent coupon ETF-linked notes due Sept. 18, 2023 tied to the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive an annualized 7.5% coupon, payable quarterly, when the closing level of each fund is above 60% of its initial level on the related observation date.
The notes will be automatically called at par if each ETF closes at or above its initial level on any quarterly call observation date after six months.
At maturity, investors will receive par if neither fund closes below its 60% barrier level.
If either ETF falls by more than 40%, investors will be exposed to the lesser performing ETF’s decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying ETFs: | VanEck Vectors Gold Miners ETF and iShares Silver Trust
|
| Amount: | $500,000
|
| Maturity: | Sept. 18, 2023
|
| Coupon: | 7.5% annual rate, payable quarterly when the closing level of each fund is above its coupon barrier level on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if neither ETF closes below its barrier level; otherwise, exposure to losses of worst performing ETF
|
| Call: | Automatically at par if each ETF closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $47.64 for gold, $23.87 for silver
|
| Coupon barrier levels: | 60% of initial levels
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.15%
|
| Cusip: | 40057LFY2
|
|
|
© 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.
