Published on 8/31/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.29 million contingent coupon autcocallables linked to two indexes
By Susanna Moon
Chicago, Aug. 31 – Goldman Sachs Group, Inc. priced $4.29 million of callable contingent coupon index-linked notes due Sept. 11, 2025 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.8% if each index closes at or above its coupon barrier level, 50% of its initial level, on the determination date for that quarter.
The notes will be called at par if each index closes at or above initial level on any coupon payment date after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $4,293,000
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| Maturity: | Sept. 11, 2025
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| Coupon: | 5.8%, payable for each quarter that both indexes close at or above barrier level
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index finishes below the barrier level, in which case investors will be fully exposed to any losses of the worst performing index
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| Call: | At par if each index closes at or above initial level on any coupon date beginning Aug. 31, 2016
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| Initial levels: | 1,153.608 for Russell, 1,987.66 for S&P
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| Barrier levels: | 50% of initial level
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.05%
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| Cusip: | 38148TBE8
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