Published on 4/28/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $920,000 callable quarterly range accrual notes on Libor, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., April 28 – Goldman Sachs Group, Inc. priced $920,000 of callable quarterly range accrual notes due April 29, 2025 linked to the Russell 2000 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at Libor plus 197 basis points for each day that Libor is greater than 0% and less than or equal to 6% and the Russell 2000 index closes at or above the trigger level, 60% of its initial value. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are callable at par on any quarterly call date after one year.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
|
Issue: | Callable quarterly range accrual notes
|
Amount: | $920,000
|
Maturity: | April 29, 2025
|
Coupon: | Annual rate for each day that Libor is greater than 0% and less than or equal to 6% and index closes at or above 60% of its initial value; coupon will be equal to Libor plus 197 bps; payable quarterly, with floor of zero
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par on any interest payment date from April 29, 2016 onward
|
Initial level: | 1,267.535
|
Trigger level: | 760.521, 60% of initial level
|
Pricing date: | April 24
|
Settlement date: | April 29
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 3.6%
|
Cusip: | 38147QYX8
|
© 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.