GS Finance plans callable contingent coupon notes on fund, indexes

By Devika Patel

Knoxville, Tenn., June 30 – GS Finance Corp. plans to price callable contingent coupon notes due July 7, 2025 linked to the least performing of the Financial Select Sector SPDR Fund, the Russell 2000 index and the Dow Jones Industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 15% per year if each underlying closes at or above 70% of its initial level on the coupon payment date for that quarter.

Beginning in October 2020 and ending in April 2025, the notes are callable in whole but not in part at par plus any contingent coupon on any coupon payment date.

The payout at maturity will be par unless any underlying finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing underlying from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40057CCU3) will price on July 1 and settle on July 6.

© 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.