By Angela McDaniels
Tacoma, Wash., Sept. 11 – Goldman Sachs Group, Inc. priced $2 million of callable contingent coupon notes due Sept. 11, 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 9.05% per year if each index’s closing level is at least 70% of the initial index level on the determination date for that quarter.
Beginning March 11, 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 30% or greater, the payout at maturity will be par plus the contingent coupon. If the return of either index is less than negative 30%, 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: | $2 million
|
| Maturity: | Sept. 11, 2019
|
| Coupon: | Each quarter, notes pay coupon at rate of 9.05% per year if each index’s closing level is at least 70% 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 30% or greater; if return of either index is less than negative 30%, full exposure to losses of lesser-performing index
|
| Call option: | Beginning March 11, 2016, notes are callable at par on any interest payment date
|
| Initial levels: | 1,136.168 for Russell 2000 and 1,921.22 for S&P 500 (indexes’ closing levels on Sept. 4)
|
| Pricing date: | Sept. 8
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| Settlement date: | Sept. 11
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.4%
|
| Cusip: | 38148TEF2
|
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