By Sarah Lizee
Olympia, Wash., Aug. 8 – GS Finance Corp. priced $1 million of callable contingent coupon notes due Aug. 4, 2021 linked to the stocks of AngloGold Ashanti Ltd. and Agnico Eagle Mines Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 21.5% if each stock’s closing level is greater than or equal to 70% of its initial level on every day during the observation period for that quarter.
Beginning in July 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either stock declines by more than 30%, in which case investors will lose 1% for every 1% that the lesser-performing stock declines from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying stocks: | AngloGold Ashanti Ltd. and Agnico Eagle Mines Ltd.
|
| Amount: | $1 million
|
| Maturity: | Aug. 4, 2021
|
| Coupon: | 21.5%, payable quarterly if each stock’s closing level is greater than or equal to 70% of initial level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock declines by more than 30%, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call option: | Beginning in July 2020, notes are callable at par on any coupon payment date
|
| Initial index levels: | $18.74 for AngloGold, $54.18 for Agnico
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 6
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.15%
|
| Cusip: | 40056FZB4
|
© 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.
