By Marisa Wong
Morgantown, W.Va., Feb. 3 – GS Finance Corp. priced $3.58 million of callable contingent coupon notes due Feb. 10, 2026 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon of 1.525% if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date from January 2017 to October 2025.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,582,000
|
| Maturity: | Feb. 10, 2026
|
| Coupon: | Each quarter, coupon of 1.525% if both indexes close at or above 50% of initial levels on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index declines by more than 50%, in which case full exposure to losses of lesser-performing index
|
| Call option: | At par on any interest payment date from January 2017 to October 2025
|
| Initial levels: | 1,882.95 for S&P and 1,002.747 for Russell
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.03%
|
| Cusip: | 40054CBC7
|
|
|
© 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.
