By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – GS Finance Corp. priced $544,000 of callable contingent coupon notes due Jan. 23, 2023 linked to the Russell 2000 index and the Euro Stoxx 50 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 annual rate of 7% if each index closes at or above 60% of its initial level on the observation date that quarter.
The notes are callable at par on any coupon payment date after one year.
If each index finishes positively or declines by up to 40%, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $544,000
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Maturity: | Jan. 23, 2023
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Coupon: | 7% per year, payable each quarter that each index closes at or above 60% of initial level on observation date that quarter
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Price: | Par
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Payout at maturity: | If each index finishes positive or declines by up to 40%, par plus final coupon; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
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Call option: | At par on any coupon payment date after one year
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Initial index levels: | 3,620.91 for Stoxx and 1,576.729 for Russell 2000
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Trigger levels: | 2,172.546 for Stoxx and 946.0374 for Russell 2000; 60% of initial levels
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.85%
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Cusip: | 40055AFB8
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