By Sarah Lizee
Olympia, Wash., Feb. 26 – GS Finance Corp. priced $2.38 million of autocallable contingent coupon notes due March 1, 2022 linked to the least performing of the common stocks of Walt Disney Co. and CBS Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying stocks: | Walt Disney Co. and CBS Corp.
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Amount: | $2,379,000
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Maturity: | March 1, 2022
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Coupon: | 9% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on applicable quarterly review date
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Price: | Par
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Payout at maturity: | If each stock finishes at or above 70% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing stock
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Call: | At par if each stock closes at or above its initial level on any quarterly review date
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Initial levels: | $115.25 for Disney, $51.69 for CBS
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Pricing date: | Feb. 22
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Settlement date: | Feb. 27
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Agent: | Goldman Sachs & Co.
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Fees: | 2.61%
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Cusip: | 40056EU71
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