By William Gullotti
Buffalo, N.Y., April 25 – GS Finance Corp. priced $1.85 million of autocallable contingent coupon basket-linked notes due Jan. 27, 2026 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp.
The notes will pay a contingent monthly coupon at an annual rate of 9% if the basket closes at or above its coupon barrier level, 85% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if the basket closes at or above its initial level on any monthly call observation date after one year.
If the notes are not called and the final level of the basket is greater than or equal to the coupon barrier, the payout at maturity will be par plus the final coupon.
If the basket finishes below the coupon barrier but at or above the 60% trigger buffer, par. Otherwise, investors will be fully exposed to the decline of the basket from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc., Microsoft Corp.; equal weights
|
| Amount: | $1.85 million
|
| Maturity: | Jan. 27, 2026
|
| Coupon: | 9% annual rate; payable monthly if closing level of the basket is greater than or equal to coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if the basket finishes at or above coupon barrier; if basket finishes below coupon barrier but at or above trigger buffer, par; otherwise, full exposure to decline of basket from initial level
|
| Call: | At par plus coupon if basket closes at or above initial level on any monthly observation date after one year
|
| Initial levels: | $167.63 for Apple, $104.30 for Amazon, $105.02 for Alphabet, $288.45 for Microsoft
|
| Coupon barrier level: | 85% of initial level
|
| Trigger buffer level: | 60% of initial level
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 40057RGH5
|
|
|
© 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.
