GS Finance plans autocallable contingent coupon notes tied to Russell

By Devika Patel

Knoxville, Tenn., March 24 – GS Finance Corp. plans to price autocallable contingent coupon notes due March 31, 2022 linked to 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 10.25% if the index closes at or above 85% of its initial level on the review date for that quarter.

Between September 2017 and December 2021, the notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any review date.

The payout at maturity will be par plus the final coupon, if any, unless the index falls by more than 43% to 49%. Investors will lose 1% for each 1% decline from the initial level if the index falls below the 57% to 51% trigger level, which will be set at pricing.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40054L3D4) will price on March 28 and settle March 31.

© 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.