Published on 7/6/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3 million trigger phoenix autocallables on Russell 2000, MSCI EAFE
By Marisa Wong
Madison, Wis., July 6 – Goldman Sachs Group, Inc. priced $3 million of trigger phoenix autocallable optimization securities due June 30, 2025 linked to the worst performing of the Russell 2000 index and MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 1.8375% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final contingent coupon, if any, unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman, Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Russell 2000 and MSCI EAFE
|
| Amount: | $2,995,600
|
| Maturity: | June 30, 2025
|
| Coupon: | 7.35% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus final contingent coupon, if any; otherwise, full exposure to losses of worse performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 1,279.794 for Russell 2000 and 1,898.820 for MSCI EAFE
|
| Barrier levels: | 895.856 for Russell 2000 and 1,329.174 for MSCI EAFE; 70% of initial levels
|
| Trigger levels: | 639.897 for Russell 2000 and 949.410 for MSCI EAFE; 50% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 30
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 38148W771
|
|
|
© 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.
