Published on 6/26/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.72 million range accrual notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., June 26 – Goldman Sachs Group, Inc. priced $4.72 million of callable monthly Euro Stoxx 50 index-linked range accrual notes due June 27, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 7.1% per year multiplied by the proportion of days on which the index closes at or above the barrier level, 80% of the initial index level. Interest is payable monthly.
The payout at maturity will be par if the final index level is at least 50% of the initial level. Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Beginning June 27, 2015, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
|
Issue: | Callable monthly range accrual notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $4,717,000
|
Maturity: | June 27, 2029
|
Coupon: | 7.1% per year multiplied by proportion of days on which index closes at or above barrier level; payable monthly
|
Price: | Par
|
Payout at maturity: | Par if final level is greater than or equal to 50% of initial level; otherwise, full exposure to index decline from initial level
|
Call option: | At par on any interest payment date beginning June 27, 2015
|
Initial index level: | 3,284.81
|
Barrier level: | 2,627.848, 80% of initial level
|
Pricing date: | June 24
|
Settlement date: | June 27
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 4.9%
|
Cusip: | 38147QB88
|
© 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.