GS Finance plans contingent income autocallable notes on Caterpillar

By Devika Patel

Knoxville, Tenn., March 24 – GS Finance Corp. plans to price contingent income autocallable securities due April 3, 2020 linked to the common stock of Caterpillar Inc., 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 9.4% if the shares close at or above the 75% downside threshold level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Caterpillar shares close at or above the initial price on any of the first 11 coupon determination dates.

The payout at maturity will be par plus the final coupon unless the shares finish below the downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.

Goldman Sachs & Co. is the underwriter.

The notes (Cusip: 36251V457) will price on March 31 and settle three business days after pricing.

© 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.