By Angela McDaniels
Tacoma, Wash., April 15 – Goldman Sachs Group, Inc. priced $19.83 million of trigger phoenix autocallable optimization securities due April 16, 2025 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing levels of both indexes are greater than or equal to 70% of their respective initial levels on a quarterly determination date, the issuer will pay a coupon that quarter at the rate of 8.65% per year.
Beginning in April 2016, the notes will be called at par of $10 plus interest if each index closes at or above its initial level on any quarterly determination date.
If the notes are not called and the return of both indexes is greater than or equal to negative 30%, the payout at maturity will be par plus the final coupon.
If the return of both indexes is greater than or equal to negative 50% but the return of either index is less than negative 30%, the payout will be par.
If the return of either index is less than negative 50%, investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $19,832,000
|
| Maturity: | April 16, 2025
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| Coupon: | 8.65% per year, paid quarterly if each index closes at or above coupon barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of both indexes is greater than or equal to negative 30%, par plus final coupon; if return of both indexes is greater than or equal to negative 50% but return of either index is less than negative 30%, par; if return of either index is less than negative 50%, full exposure to decline of lesser performing index
|
| Call: | Beginning in April 2016, notes will be called at par plus interest if each index closes at or above initial level on any quarterly determination date
|
| Initial levels: | 1,264.775 for Russell 2000 and 3,816.76 for Euro Stoxx
|
| Coupon barrier levels: | 885.343 for Russell 2000 and 2,671.732 for Euro Stoxx 50; 70% of initial levels
|
| Trigger levels: | 632.388 for Russell 2000 and 1,908.38 for Euro Stoxx 50; 50% of initial levels
|
| Pricing date: | April 10
|
| Settlement date: | April 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 38146U645
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