By Marisa Wong
Morgantown, W.Va., Jan. 4 – GS Finance Corp. priced $22.19 million of trigger autocallable contingent yield notes due Dec. 31, 2026 linked to the MSCI EAFE 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 8% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning in December 2017, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below its downside threshold level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI EAFE and Russell 2000
|
| Amount: | $22,186,410
|
| Maturity: | Dec. 31, 2026
|
| Coupon: | 8% per year, payable each quarter that each index closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon, if any, unless either index finishes below its downside threshold level, in which case investors will be fully exposed to decline of lesser-performing index
|
| Initial levels: | 1,360.825 for Russell 2000 and 1,669.42 for MSCI EAFE
|
| Coupon barriers: | 952.578 for Russell 2000 and 1,168.594 for MSCI EAFE; 70% of initial levels
|
| Downside thresholds: | 680.413 for Russell 2000 and 834.710 for MSCI EAFE; 50% of initial levels
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 30
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 36251U483
|
|
|
© 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.
