By Wendy Van Sickle
Columbus, Ohio, April 9 – GS Finance Corp. priced $65,000 of callable contingent coupon notes due March 29, 2022 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 6% if each index closes at or above 70% of its initial level on the observation date for that month.
The notes are callable at par of $1,000 on any contingent coupon payment date after one year.
The payout at maturity will be par plus the final coupon payment, unless either index finishes below 70% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index 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 S&P 500
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Amount: | $65,000
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Maturity: | March 29, 2022
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Coupon: | 6%, payable monthly if each index closes at or above 70% of initial levels on determination date
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Price: | Par
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Payout at maturity: | Par plus final coupon, unless either index declines by more than 30%, in which case 1% loss for each 1% decline of lesser-performing index from initial level
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Call option: | At par on any interest payment date after one year
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Initial levels: | 1,543.717 for Russell 2000 and 2,658.55 for S&P
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Pricing date: | March 27
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Settlement date: | March 29
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 4.55%
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Cusip: | 40055AQS9
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