Published on 2/27/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.38 million callable monthly range accrual notes on Russell 2000 index
By Jennifer Chiou
New York, Feb. 27 – Goldman Sachs Group, Inc. priced $1,382,000 of callable monthly Russell 2000 index-linked range accrual notes due Feb. 27, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7% for each day that the index closes at or above the 65% coupon barrier level. Interest is payable monthly.
The notes will be callable at par on any interest payment date beginning on Feb. 27, 2016.
The payout at maturity will be par unless the index finishes below 50% trigger level, in which case par plus index return, with exposure to losses.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
|
Issue: | Callable monthly range accrual notes
|
Underlying index: | Russell 2000
|
Amount: | $1,382,000
|
Maturity: | Feb. 27, 2025
|
Coupon: | 7% for each day that index closes at or above 65% coupon barrier level; payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless index finishes below 50% trigger level, in which case par plus index return, with exposure to losses
|
Call option: | At par on any interest payment date beginning on Feb. 27, 2016
|
Initial level: | 1,235.101
|
Coupon barrier level: | 802.81565, 65% of initial level
|
Trigger buffer level: | 50% of initial level
|
Pricing date: | Feb. 25
|
Settlement date: | Feb. 27
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 3.95%
|
Cusip: | 38147QTL0
|
|
© 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.