By Susanna Moon
Chicago, March 2 – GS Finance Corp. priced $567,000 of callable contingent coupon notes due Nov. 15, 2021 linked to the least performing of the Russell 2000 index, the SPDR S&P Regional Banking ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if each underlying component closes at or above its 60% coupon barrier on the review date for that quarter.
The notes are callable at par on any call observation date after one year.
The payout at maturity will be par unless any component finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.
The guarantor is 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, SPDR S&P Regional Banking ETF and SPDR S&P Biotech ETF
|
| Amount: | $567,000
|
| Maturity: | Nov. 15, 2021
|
| Coupon: | 8.3% annualized, payable quarterly if each component closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Call option: | At par on any interest payment date beginning August 2018
|
| Payout at maturity: | Par unless any component finishes below 60% trigger, in which case 1% loss per 1% decline of worst performing index or fund
|
| Initial index levels: | 1,490.981 for Russell, $60.53 for bank fund and $88.79 for biotech fund
|
| Trigger levels: | 894.5886 for Russell, $36.318 for bank fund and $53.274 for biotech fund; 60% of initial levels
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 15
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 40055ALK1
|
|
|
|
|
© 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.
