By Wendy Van Sickle
Columbus, Ohio, March 26 – GS Finance Corp. priced $1.56 million of callable contingent coupon index-linked notes due March 25, 2030 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 13.3% if each index closes at or above its 70% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due on any coupon payment date after one year.
If the notes are not called, the payout will be par plus any final coupon due if each index finishes at or above 60% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1,555,000
|
| Maturity: | March 25, 2030
|
| Contingent coupon: | 13.3% per year, payable quarterly if each index closes at or above coupon trigger level on determination date for period
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon if each index finishes at or above its 60% of its level; otherwise, 1% loss for every 1% decline of the worse performing index
|
| Call option: | At par plus any contingent coupon due on any coupon payment date after one year
|
| Initial index levels: | 1,058.749 for Russell, 2,409.39 | for S&P
|
| Coupon trigger levels: | 70% of initial levels
|
| Trigger buffer levels: | 60% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 23
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.2%
|
| Cusip: | 40056YVM3
|
|
|
© 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.
