By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – GS Finance Corp. priced $1.08 million of autocallable contingent coupon notes due Aug. 15, 2019 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate 7.5% if each index closes at or above its 70% coupon barrier on the observation date that month.
The notes will be called at par if each index closes at or above its initial level on any coupon payment date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below its initial level and either index has closed below its 70% trigger level any day during the life of the notes, in which case investors will be fully exposed to the decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000, S&P 500
|
| Amount: | $1,083,000
|
| Maturity: | Aug. 15, 2019
|
| Coupon: | 9%, payable monthly if each index closes at or above 70% coupon barrier on observation date that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below initial level and either index closes below 70% trigger level during life of notes, in which case full exposure to losses of worse performing index
|
| Call: | At par if each index closes at or above its initial level on any coupon payment date after six months
|
| Initial levels: | 2,441.32 for S&P, 1,374.231 for Russell
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 16
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.7%
|
| Cusip: | 40054LP99
|
|
|
© 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.
