Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Goldman plans contingent coupon autocallables on S&P 500, Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., May 26 – Goldman Sachs Group, Inc. plans to price autocallable contingent coupon notes due June 10, 2025 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.2% to 1.925% if each underlying index closes at or above the 70% coupon barrier level on a review date for that quarter. The exact coupon will be set at pricing.
If each index closes at or above its initial level on any interest payment date after one year, the notes will be called at par plus the coupon.
The payout at maturity will be par plus the contingent coupon if each index finishes at or above the 70% barrier level. If either index finishes below the 70% barrier but each index finishes at or above 50% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst-performing index.
Goldman Sachs & Co. is the agent.
The notes will price May 27 and settle May 29.
The Cusip number is 38148T3X5.
© 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.