Published on 3/31/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.16 million contingent coupon autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., March 31 – Goldman Sachs Group, Inc. priced $2.16 million of autocallable contingent coupon notes due April 3, 2020 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11% per year if each index’s closing level is greater than or equal to 75% of its initial level on the determination date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
If the notes have not been called and the return of each index is greater than or equal to negative 25%, the payout at maturity will be par plus the contingent coupon. If the return of any index is less than negative 25%, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $2.16 million
|
| Maturity: | April 3, 2020
|
| Coupon: | Each quarter, notes will pay contingent coupon at rate of 11% per year if each index’s closing level is greater than or equal to coupon trigger level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 25%, par plus contingent coupon; if return of any index is less than negative 25%, full exposure to decline of least-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date
|
| Initial index levels: | 2,061.02 for S&P 500, 1,240.409 for Russell 2000 and 3,679.03 for Euro Stoxx 50
|
| Coupon trigger levels: | 1,545.765 for S&P 500, 930.30675 for Russell 2000 and 2,759.2725 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | March 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.95%
|
| Cusip: | 38147QXR2
|
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