By Wendy Van Sickle
Columbus, Ohio, June 14 – GS Finance Corp. priced $4 million of autocallable contingent coupon notes due June 11, 2021 linked to the Euro Stoxx 50 index, 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.
The notes pay a contingent quarterly coupon at an annual rate of 7.7% if each index closes at or above its 70% coupon trigger level on the related observation date.
The notes will be called automatically at par if each index closes at or above its initial level on any quarterly observation date after six months.
If each index finishes positive or has never closed below 70% of its initial level any during the life of the notes, the payout at maturity will be par plus the final coupon.
Otherwise, the payout will be par plus the return of the least-performing index with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $4 million
|
| Maturity: | June 11, 2021
|
| Coupon: | 7.7%, payable each quarter that each index closes at or above coupon trigger on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes positive or has never fallen more than 30%; otherwise, par plus the return of the least-performing index with full exposure to losses
|
| Call option: | Notes will be called automatically at par if each index closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | 3,447.3 for Stoxx, 1,672.49 for Russell and 2,779.03 for S&P
|
| Coupon triggers: | 2,413.11 for Stoxx, 1,170.743 for Russell and 1,945.321 for S&P; 70% of initial levels
|
| Pricing date: | June 8
|
| Settlement date: | June 13
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.425%
|
| Cusip: | 40055QF56
|
|
|
© 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.
