By Wendy Van Sickle
Columbus, Ohio, March 25 – GS Finance Corp. priced $8.15 million of autocallable contingent coupon notes due March 19, 2026 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.
Each month, the notes pay a contingent coupon at a rate of 6% per year if each index closes at or above 85% of its initial level on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par unless any asset closes below 85% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing asset beyond 15% of its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $8,154,000
|
| Maturity: | March 19, 2026
|
| Coupon: | 6% per year; payable each month that each index closes at or above 85% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below 85% of initial level, in which case exposure to loss of lesser performer beyond 15% of its initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly call observation date after one year
|
| Initial index levels: | 3,943.34 for S&P 500 and 2,352.789 for Russell
|
| Trigger levels: | 85% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.85%
|
| Cusip: | 40057FN83
|
© 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.
