Published on 5/25/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.05 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 25 – GS Finance Corp. priced $3.05 million of callable contingent coupon notes due May 29, 2019 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.8% if each index closes at or above its barrier level, 60% of its initial level, on the determination date for that quarter.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $3,045,000
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| Maturity: | May 29, 2019
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| Coupon: | 8.8% per year, payable quarterly if each index closes at or above its barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, in which case full exposure to loss of worst performing index
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| Call option: | At par quarterly on any coupon date
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| Initial levels: | 2,048.04 for S&P, 2,932.93 for Euro Stoxx, 1,111.367 for Russell
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| Barrier/trigger levels: | 60% of initial levels
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| Pricing date: | May 23
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| Settlement date: | May 26
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 2%
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| Cusip: | 40054KCS3
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