By Susanna Moon
Chicago, Feb. 28 – GS Finance Corp. priced $366,000 of callable contingent coupon notes due Feb. 28, 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 at an annual rate of 6.2% if each index closes at or above its 50% coupon barrier on the determination date for that quarter.
The notes will be callable at par on any interest payment date from August 2017 through November 2021.
The payout at maturity will be par plus the final coupon unless either index finishes below its 50% barrier level, in which case investors will lose 1% for each 1% decline of the worse 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: | $366,000
|
| Maturity: | Feb. 28, 2022
|
| Contingent coupon: | 6.2% annualized, payable quarterly if each index closes at or above 50% coupon barrier on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes above 50% barrier level; otherwise 1% loss for each 1% decline of worse performing index
|
| Call option: | At par on any coupon payment date from August 2017 through November 2021
|
| Initial levels: | 2,363.81 for S&P and 1,394.623 for Russell
|
| Barriers: | 50% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.35%
|
| Cusip: | 40054KV52
|
|
|
|
|
© 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.
