By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – GS Finance Corp. priced $1.15 million of callable monthly range accrual notes due Jan. 28, 2026 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will accrue at 8.05% annualized for each day that the index closes at or above the barrier level, 70% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 40%, in which case investors will be fully exposed to the decline from the initial level.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
The notes are guaranteed by Goldman Sachs Group, Inc.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1,152,000
|
| Maturity: | Jan. 28, 2026
|
| Coupon: | 8.05% annualized for each day that the index closes at or above the barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Jan. 28, 2017
|
| Initial level: | 997.373
|
| Barrier level: | 698.1611, 70% of initial level
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 28
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 5.15%
|
| Cusip: | 40054CBN3
|
|
|
© 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.
