By Susanna Moon
Chicago, Feb. 24 – GS Finance Corp. priced $2.6 million of autocallable contingent coupon notes due March 9, 2026 linked to the Dow Jones industrial average, 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 monthly coupon at an annualized rate of 8.6% if the index closes at or above the 75% coupon barrier level on the determination date for that month.
The notes will be called at par if the index closes at or above its 115% call level on any observation date.
The payout at maturity will be par the contingent coupon unless the index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $2,595,000
|
| Maturity: | March 9, 2026
|
| Coupon: | 8.6% annualized, payable monthly if index closes at or above barrier level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case full exposure to any losses
|
| Call: | At par if the index closes at or above its 115% call level on any observation date
|
| Initial level: | 16,620.66
|
| Coupon barrier: | 12,465.495, 75% of initial level
|
| Trigger level: | 60% of initial level
|
| Call level: | 115% of initial level
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.48%
|
| Cusip: | 40054K3E4
|
|
|
|
|
© 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.
