Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.4 million callable contingent coupon notes linked to indexes
New York, June 10 – GS Finance Corp. priced $1.4 million of callable contingent coupon notes due June 12, 2018 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, and according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.9% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be callable at par plus the coupon, if any, on any coupon payment date.
The payout at maturity will be par plus the final coupon, if any, unless the return of either index is less than negative 40%, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| 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: | $1.4 million
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| Maturity: | June 12, 2018
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| Coupon: | 7.9%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless return of either index is less than negative 40%, in which case full exposure to decline of worse-performing index
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| Call: | At par plus accrued interest, if any, on any quarterly coupon payment date
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| Initial levels: | 3,040.69 for Euro Stoxx 50, 1,179.973 for Russell 2000 and 2,112.13 for S&P 500
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| Barrier levels: | 60% of initial levels
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| Pricing date: | June 7
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| Settlement date: | June 10
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.675%
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| Cusip: | 40054KE28
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