By Taylor Fox
New York, Aug. 25 – GS Finance Corp. priced $2.69 million of callable contingent coupon index-linked notes due Feb. 26, 2024 tied 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 will pay a contingent semiannual coupon at an annualized rate of 7.2% if each index closes above its 70% coupon barrier on the related observation date.
The notes will be callable at par on any semiannual observation date.
The payout at maturity will be par plus the final coupon if both the indexes finish above the 70% trigger buffer level.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC 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: | $2,690,000
|
| Maturity: | Feb. 26, 2024
|
| Coupon: | 7.2% annual rate, payable semiannually if each index closes above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if all indexes finish above the trigger buffer level; otherwise, full exposure to the losses of the worst performing index
|
| Call option: | At par plus contingent coupon on any semiannual call observation date
|
| Initial index levels: | 2,266.689 for Russell and 3,906.71 for S&P
|
| Coupon trigger levels: | 70% of initial levels
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 40057FEC4
|
© 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.
