By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – GS Finance Corp. priced $3.25 million of callable contingent coupon notes due Aug. 31, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent semiannual coupon at an annual rate of 5.6% if each index closes at or above 55% of its initial level on the observation date.
The notes are callable at par on any coupon payment date.
If each index finishes at or above 55% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, the payout will be par plus the return of the least-performing index with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $3,246,000
|
| Maturity: | Aug. 31, 2022
|
| Coupon: | 5.6%, payable each six months that each index closes at or above 55% of its initial level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above 55% of its initial level; otherwise par plus the return of least-performing index with full exposure to losses
|
| Call option: | At par on any coupon payment date
|
| Initial levels: | 1,725.671 for Russell, 2,874.69 for S&P 500
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.3%
|
| Cusip: | 40055QPU0
|
|
|
|
|
© 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.
