By Marisa Wong
Morgantown, W.Va., Dec. 2 – Goldman Sachs Group, Inc. priced $2.25 million of autocallable contingent coupon equity-linked notes due Dec. 7, 2016 linked to the common stock of SVB Financial Group, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 11.25% if SVB stock closes at or above the barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if SVB shares close at or above the initial share price on any quarterly valuation date.
If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price.
Goldman Sachs & Co. is the underwriter, and J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | SVB Financial Group (Symbol: SIVB)
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| Amount: | $2.25 million
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| Maturity: | Dec. 7, 2016
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| Coupon: | Each quarter, notes pay a contingent coupon at an annualized rate of 11.25% if SVB stock closes at or above the barrier price, 70% of the initial price, on the valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If the final share price is greater than or equal to the barrier price, par plus the contingent coupon; otherwise, investors will be fully exposed to the decline in the share price
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| Call: | Automatically at par plus the contingent coupon if SVB shares close at or above the initial share price on any quarterly valuation date
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| Initial price: | $129.14
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Underwriter: | Goldman Sachs & Co.
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| Agent: | J.P. Morgan Securities LLC (placement)
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| Fees: | 1.1%
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| Cusip: | 38148TJG5
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