By William Gullotti
Buffalo, N.Y., July 11 – GS Finance Corp. priced $2.6 million of callable contingent coupon index-linked notes due June 30, 2027 tied 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 annual rate of 6.6% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after one year.
If the notes have not been called and each index finishes at or above its 70% trigger buffer level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the 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 index, Russell 2000 index
|
| Amount: | $2,602,000
|
| Maturity: | June 30, 2027
|
| Coupon: | 6.6% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger buffer, par plus final coupon; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | At par plus any coupon due on any quarterly call observation date after one year
|
| Initial index levels: | 3,900.11 for S&P, 1,771.742 for Russell
|
| Trigger buffer levels: | 70% of initial levels
|
| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057MB24
|
|
|
© 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.
