By Angela McDaniels
Tacoma, Wash., Sept. 21 – Goldman Sachs Group, Inc. priced $3.57 million of autocallable contingent coupon notes due Sept. 22, 2025 linked to the Russell 2000 index and the S&P 500 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% per year if each index closes at or above its coupon trigger level, 70% of its initial level, on the review date 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.
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 each index is greater than or equal to negative 50% but the return of either index is less than negative 30%, the payout will be par.
If the return of either index is less than negative 50%, investors will share fully in the losses of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3.57 million
|
| Maturity: | Sept. 22, 2025
|
| Coupon: | Each quarter, notes pay coupon at rate of 9% per year if each index closes at or above coupon trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes have not been called and return of each index is negative 30% or greater, par plus contingent coupon; if return of each index is greater than or equal to negative 50% but return of either index is less than negative 30%, par; if return of either index is less than negative 50%, full exposure to losses of lesser-performing index
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly determination date
|
| Initial levels: | 1,165.995 for Russell 2000 and 1,978.09 for S&P 500
|
| Coupon trigger levels: | 816.1965 for Russell 2000 and 1,384.663 for S&P 500; 70% of initial levels
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 22
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.65%
|
| Cusip: | 38148TEX3
|
© 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.
