A story in the Oct. 30 edition of the Prospect News Structured Products Daily misstated the initial coupon for Goldman Sachs Group, Inc.’s recently priced issue of callable contingent coupon notes. A corrected version of the story follows.
New York, Oct. 30 – Goldman Sachs Group, Inc. priced $1.66 million of callable contingent coupon notes due Nov. 7, 2029 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a fixed coupon of 1.875% per quarter until November 2018. After that, the notes will pay a contingent quarterly coupon at an annual rate of 7.5% if each index closes at or above its 70% trigger level on any quarterly observation date.
The notes are callable at par plus the contingent coupon on any quarterly call date beginning in November 2015.
If the notes have not been called, the payout at maturity will be par plus the contingent coupon if both indexes finish at or above the 70% trigger level. If both indexes finish at or above negative 50% but the return of either index is less than negative 30%, the payout at maturity will be par.
If either index falls by more than 50%, investors will share in any losses of lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $1.66 million
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| Maturity: | Nov. 7, 2029
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| Contingent coupon: | 1.875% per quarter until November 2018; after that, 7.5% annualized, payable quarterly if each index closes at or above trigger level on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if both indexes finish at or above the 70% trigger level; par if both indexes finish at or above negative 50% but the return of either index is less than negative 30%; exposure to losses of lesser-performing index if either index falls by more than 50%
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| Call option: | At par plus contingent coupon on any quarterly call date beginning in November 2015
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| Initial index levels: | 1,118.824 for Russell and 3,030.37 for Euro Stoxx
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| Coupon trigger levels: | 70% of initial level
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 29
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 5.05%
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| Cusip: | 38147QK54
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