By William Gullotti
Buffalo, N.Y., Jan. 22 – GS Finance Corp. priced $2.49 million of autocallable contingent coupon index-linked notes due Jan. 15, 2026 tied to the S&P 500 index and the Russell 2000 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 7.3% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after six months.
If the notes are not called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger level but at or above its 65% trigger buffer level, the payout will be par. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $2,485,000
|
| Maturity: | Jan. 15, 2026
|
| Coupon: | 7.3% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus final coupon; if worst performer finishes below coupon trigger but at or above trigger buffer level, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months
|
| Initial index levels: | 4,780.24 for S&P, 1,955.456 for Russell
|
| Coupon trigger levels: | 75% of initial levels
|
| Trigger buffer levels: | 65% of initial levels
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 40057XW35
|
|
|
© 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.
