By Jennifer Chiou
New York, Dec. 12 - Goldman Sachs Group, Inc. priced $7.3 million of 0% autocallable buffered notes due June 24, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called if the fund closes at or above the initial price on any of three semiannual call observation dates, which begin on Dec. 17, 2014. The payout will be 8% of par if the notes are called on the first observation date, and the call premium will increase by 4% for every call observation date thereafter.
If the notes are not called and the fund return is at or greater than negative 5%, the payout at maturity will be the maximum settlement amount of $1,200 per $1,000 principal amount of notes.
Investors the fund return is less than negative 5% but greater than or equal to negative 15%, the payout at maturity will be par. Otherwise, investors will share in losses at a rate of 1.1765% per 1% decline beyond 15%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable buffered notes
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $7.3 million
|
| Maturity: | June 24, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return is at or greater than negative 5%, par plus 20%; par if fund return is less than negative 5% but greater than or equal to negative 15%; otherwise, exposure to losses at rate of 1.1765% per 1% decline beyond 15%
|
| Call: | Automatically if fund closes at or above the initial price on any semiannual observation dates, beginning on Dec. 17, 2014; payout of 108% of par if the notes called on first observation date, increasing by 4% for every call observation date thereafter
|
| Initial level: | $42.02
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 17
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.945%
|
| Cusip: | 38147Q5N2
|
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