Published on 7/27/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $17.18 million callable contingent coupon notes on Russell, S&P
By Marisa Wong
Morgantown, W.Va., July 27 – GS Finance Corp. priced $17.18 million of callable contingent coupon notes due July 29, 2019 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 will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon at an annual rate of 8.5% if each index closes at or above 70% of its initial level on the determination date for the applicable semiannual period.
The notes are callable at par plus the contingent coupon, if any, on any semiannual payment date.
The payout at maturity will be par plus the final contingent coupon, unless either index finishes below its 70% trigger 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: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $17,184,000
|
| Maturity: | July 29, 2019
|
| Coupon: | 8.5%, payable each semiannual period that each index closes at or above barrier on determination date for that period
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus final coupon, unless either index finishes below trigger level, in which case full exposure to decline of worse performing index
|
| Call: | At par plus accrued interest, if any, on any coupon payment date
|
| Initial levels: | 1,212.889 for Russell 2000 and 2,175.03 for S&P 500
|
| Coupon/trigger levels: | 70% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.1%
|
| Cusip: | 40054KEX0
|
|
|
© 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.
