Chicago, Oct. 20 – GS Finance Corp. priced $14.73 million of trigger autocallable contingent yield notes due Oct. 18, 2028 linked to the Russell 2000 index and Euro Stoxx 50 index, 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 annual rate of 8.6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 60% downside threshold, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $14,725,900
|
| Maturity: | Oct. 18, 2028
|
| Coupon: | 8.6% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | 1,719.711 for Russell, 4,136.12 for Stoxx
|
| Coupon barriers: | 70% of initial levels
|
| Downside thresholds: | 60% of initial levels
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 18
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 36266M393
|
|
|
© 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.
