By Marisa Wong
Morgantown, W.Va., Nov. 3 – Goldman Sachs Group, Inc. priced $6.2 million of 0% contingent absolute return performance securities due Oct. 30, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus the ETF return.
If the ETF return is zero or negative and the final share price is greater than or equal to the trigger level, 69% of the initial price, the payout will be par plus the absolute value of the ETF return.
If the final share price is less than the trigger level, investors will be fully exposed to the ETF’s decline from its initial share price.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent absolute return performance securities
|
| Underlying ETF: | Vanguard FTSE Emerging Markets ETF
|
| Amount: | $6.2 million
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus the ETF return; if ETF return is zero or negative and the final share price is greater than or equal to the trigger level, par plus the absolute value of the ETF return; otherwise, investors will be fully exposed to the ETF’s decline from its initial share price
|
| Initial price: | $35.67
|
| Trigger price: | $24.61, 69% of initial price
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.85%
|
| Cusip: | 38148X480
|
|
|
© 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.
