By Wendy Van Sickle
Columbus, Ohio, June 14 – GS Finance Corp. priced $8.3 million of trigger autocallable contingent yield notes due June 14, 2019 linked to the lesser 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.
The notes pay a contingent quarterly coupon at an annual rate of 7.9% if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
Beginning in December, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $8,301,770
|
| Maturity: | June 14, 2019
|
| Coupon: | 7.9%, payable quarterly if indexes close at or above downside threshold on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning in December, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 1,163.931 for Russell 2000 and 2,096.07 for S&P 500
|
| Downside thresholds: | 814.752 for Russell 2000 and 1,467.249 for S&P 500; 70% of initial levels
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 2.175%
|
| Cusip: | 36250Y254
|
|
|
© 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.
