By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – GS Finance Corp. priced $2.01 million of callable contingent coupon notes due Feb. 23, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 8.75% per year if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
The notes will be callable at par plus any coupon due on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% 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: | S&P 500 and Russell 2000
|
| Amount: | $2,005,000
|
| Maturity: | Feb. 23, 2022
|
| Contingent coupon: | Contingent quarterly coupon of 8.75% per year if each index closes at or above 70% coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each index finishes above 60% barrier level; otherwise 1% loss for each 1% decline of lesser-performing index
|
| Call: | Callable at par plus any coupon due on any coupon payment date after one year
|
| Initial index levels: | 2,351.16 for S&P 500 and 1,399.862 for Russell 2000
|
| Coupon trigger: | 60% of initial levels
|
| Barriers: | 50% of initial levels
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 23
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.35%
|
| Cusip: | 40054KVX1
|
|
|
© 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.
