By Angela McDaniels
Tacoma, Wash., July 1 – Goldman Sachs Group, Inc. priced $1.22 million of callable contingent coupon notes due June 30, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 5.65% per year if each index’s closing level is at least 60% of the initial index level on the determination date for that quarter.
Beginning June 30, 2016, the notes are callable at par on any interest payment date.
If the notes have not been called and the return of each index is negative 40% or greater, the payout at maturity will be par plus the contingent coupon.
If the return of either index is less than negative 40%, investors will share fully in the losses of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,219,000
|
| Maturity: | June 30, 2019
|
| Coupon: | Each quarter, notes pay coupon at rate of 5.65% per year if each index’s closing level is at least 60% of initial index level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if return of each index is negative 40% or greater; if return of either index is less than negative 40%, full exposure to losses of lesser-performing index
|
| Call option: | Beginning June 30, 2016, notes are callable at par on any interest payment date
|
| Initial levels: | 2,101.49 for S&P 500 and 1,279.794 for Russell 2000
|
| Pricing date: | June 26
|
| Settlement date: | June 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.5%
|
| Cusip: | 38148T4T3
|
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