Published on 5/1/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $5.41 million contingent coupon autocallables on indexes
By Susanna Moon
Chicago, May 1 – Goldman Sachs Group, Inc. priced $5.41 million of autocallable contingent coupon notes due May 12, 2025 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier level, 50% of the initial index level, on any quarterly determination date, the notes will pay a coupon at an annual rate of 5.35% for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus the coupon unless either falls below the 50% trigger level, in which case investors will receive par plus the return of the worst performing index, with full exposure to any losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $5,412,000
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| Maturity: | May 12, 2025
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| Contingent coupon: | 5.35% annualized, payable quarterly if each index closes at or above coupon barrier for that period
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to any losses of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly determination date beginning April 28, 2016
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| Initial index levels: | 2,114.76 for S&P, 1,259.357 for Russell
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| Barrier levels: | 1,057.38 for S&P, 629.6785 for Russell; 50% of initial levels
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| Pricing date: | April 28
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| Settlement date: | April 30
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 3.95%
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| Cusip: | 38147QYR1
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