New Issue: Goldman sells $1.48 million contingent coupon callables on S&P, Russell

By Susanna Moon

Chicago, Oct. 18 – GS Finance Corp. priced $1.48 million of callable contingent coupon notes due Oct. 13, 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 will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its 55% coupon barrier on the review date for that quarter.

The notes are callable at par on any interest payment date after one year.

The payout at maturity will be par unless either index finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Callable contingent coupon notes
Underlying assets:	Russell 2000 index, S&P 500 index
Amount:	$1,477,000
Maturity:	Oct. 13, 2022
Coupon:	5% annualized, payable quarterly if each index closes at or above 55% coupon barrier on review date that quarter
Price:	Par
Call option:	At par on any interest payment date from October 2018 through July 2022
Payout at maturity:	Par unless either index finishes below 55% trigger, in which case 1% loss for each 1% decline of worse performing index
Initial index levels:	1,508.005 for Russell, 2,550.64 for S&P
Trigger levels:	55% of initial levels
Pricing date:	Oct. 10
Settlement date:	Oct. 13
Agent:	Goldman Sachs & Co. LLC
Fees:	4.11%
Cusip:	40054LU69

© 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.