By Wendy Van Sickle
Columbus, Ohio, Sept. 25 – GS Finance Corp. priced $776,000 of callable contingent coupon notes due Sept. 25, 2022 linked to 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.
Each quarter, the notes pay a contingent coupon at an annualized rate of 6% if each index closes at or above its barrier level, 62.5% of its initial level, on the observation date for that period.
The notes are callable at par on any coupon payment date from September 2018 to June 2022.
The payout at maturity will be par plus the final coupon, if any, unless either index closes below 50% of its initial level, in which case investors will be fully exposed to the loss of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $776,000
|
| Maturity: | Sept. 25, 2022
|
| Coupon: | 6%, payable quarterly if each index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless either index finishes below 50% of initial level, in which case full exposure to loss of lesser performing index
|
| Call option: | At par on any coupon payment date from September 2018 to June 2022
|
| Initial levels: | 1,445.42 for Russell 2000 and 2,508.24 for S&P 500
|
| Barrier levels: | 62.5% of initial levels
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.7%
|
| Cusip: | 40054LTH7
|
|
|
© 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.
