By William Gullotti
Buffalo, N.Y., July 28 – GS Finance Corp. priced $9.18 million of contingent income autocallable securities due July 24, 2026 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10.75% if the stock closes at or above the 70% downside threshold on the related determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% share price decline.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Contingent income autocallable securities
|
Underlying stock: | Wells Fargo & Co.
|
Amount: | $9,175,000
|
Maturity: | July 24, 2026
|
Coupon: | 10.75% annual rate, payable quarterly if stock closes at or above downside threshold level on determination date for that period
|
Price: | Par
|
Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to share price decline from initial share price
|
Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly determination date
|
Initial share price: | $45.96
|
Downside threshold: | $32.172; 70% of initial price
|
Pricing date: | July 21
|
Settlement date: | July 26
|
Agent: | Goldman Sachs & Co.
|
Dealer: | Morgan Stanley Wealth Management
|
Fees: | 2.25%
|
Cusip: | 40057TKV5
|
|
|
© 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.