By Kiku Steinfeld
Chicago, May 21 – GS Finance Corp. priced $979,000 of callable contingent coupon index-linked notes due Oct. 23, 2026 linked to the least performing of 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 will pay a contingent quarterly coupon at an annualized rate of 5% if each index closes at or above its 70% coupon buffer level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any quarterly coupon payment date after one year.
If each index finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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 index
|
| Amount: | $979,000
|
| Maturity: | April 30, 2026
|
| Contingent coupon: | 5% per year, payable quarterly if each index closes at or above coupon buffer level on related determination date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 70% of its initial level, par; otherwise, 1% loss for every 1% decline of worst performer
|
| Call: | At par plus any contingent coupon at issuer’s option on any quarterly coupon payment date after one year
|
| Initial index levels: | 4,186.72 for S&P, 2,301.267 for Russell
|
| Coupon buffer levels: | 70% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April. 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.76%
|
| Cusip: | 40057FV35
|
|
|
© 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.
