New Issue: GS Finance sells $710,000 callable contingent coupon notes on Russell 2000, Stoxx 50

By Wendy Van Sickle

Columbus, Ohio, March 23 – GS Finance Corp. priced $710,000 of callable contingent coupon notes due March 14, 2023 linked to the Euro Stoxx 50 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.

The notes pay a quarterly contingent coupon at an annual rate of 6.2% if each index closes at or above 65% of its initial level on the related observation date.

Goldman may call the notes at par on any coupon payment date after six months.

The payout at maturity will be par plus the final coupon, unless either index declines by more than 35%, in which case 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.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Callable contingent coupon notes
Underlying indexes:	Russell 2000 and Euro Stoxx 50
Amount:	$710,000
Maturity:	March 14, 2023
Coupon:	6.2%, payable each quarter that each index closes at or above 65% of initial level on related observation date
Price:	Par
Payout at maturity:	Par plus final coupon, if any, unless either index declines by more than 35%, in which case 1% loss for every 1% that lesser-performing index declines from initial level
Call option:	At par on any coupon payment date after six months
Initial index levels:	3,401.04 for Stoxx, 1,579.303 for Russell
Pricing date:	March 21
Settlement date:	March 26
Underwriter:	Goldman Sachs & Co.
Fees:	2.75%
Cusip:	40055ASR9

© 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.