By William Gullotti
Buffalo, N.Y., Nov. 8 – GS Finance Corp. priced $7.13 million of contingent income autocallable securities due Oct. 31, 2025 linked to the common stock of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5% per year, payable quarterly, if the stock closes at or above its 50% downside threshold on the relevant observation date.
The securities will be called automatically at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date.
At maturity, the payout will be par plus the final coupon unless the stock finishes below its 50% downside threshold level, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Valero Energy Corp.
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Amount: | $7,125,680
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Maturity: | Oct. 31, 2025
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Coupon: | 16.5% per year, payable quarterly if the stock closes at or above downside threshold level on the relevant observation date
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Price: | Par of $10
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Payout at maturity: | Par plus final coupon unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date
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Initial level: | $125.98
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Downside threshold: | $62.99, 50% of initial level
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 36264U264
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