By Sarah Lizee
Olympia, Wash., Nov. 15 – GS Finance Corp. priced $125,000 of 0% bearish autocallable buffered notes due Feb. 10, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 5% a year if the index’s closing level is below than or equal to its call level on any trading day during the life of the notes. The call level is 75% of the initial level.
If the final index level decreases from the initial index level by more than 25%, the payout at maturity will be par plus 5%.
If the final index level decreases from the initial index level but not by more than 25%, the payout will be par plus the index return.
If the final index level is equal to the initial index level or increases from the initial index level by up to 10%, the payout will be par.
If the final index level increases by more than 10% from the initial index level, investors will lose 1.111% for every 1% increase of the index beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable buffered notes
|
| Underlying index: | S&P 500
|
| Amount: | $125,000
|
| Maturity: | Feb. 10, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index decreases by more than 25%, par plus 5%; if index decreases but not by more than 25%, par plus the index return; if index is flat or increases by up to 10%, par; if index increases by more than 10%, 1.111% loss for every 1% increase of the index beyond 10%
|
| Call: | Automatically at par plus 5% a year if index’s closing level is less than the call level on any trading day during life of notes; call level is 75% of the initial level
|
| Initial level: | 3,093.08
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.22%
|
| Cusip: | 40056XNC6
|
|
|
© 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.
