By William Gullotti
Buffalo, N.Y., March 11 – GS Finance Corp. priced $3.35 million of 13% autocallable fixed coupon equity-linked notes due April 10, 2023 linked to the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial price on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless the stock finishes below the 65% trigger price, in which case investors will lose 1% for each 1% decline of the stock from its initial price.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable fixed coupon equity-linked notes
|
| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $3,351,000
|
| Maturity: | April 10, 2023
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below trigger price, in which case investors will lose 1% for each 1% decline of the stock price from its initial price
|
| Call: | At par plus the coupon if the stock closes at or above initial price on any quarterly call observation date after six months
|
| Initial price: | $46.67
|
| Trigger buffer price: | 65% of initial levels
|
| Pricing date: | March 8
|
| Settlement date: | March 11
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.15%
|
| Cusip: | 40057LEM9
|
|
|
© 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.
