By Wendy Van Sickle
Columbus, Ohio, May 30 – GS Finance Corp. priced $1.35 million of callable contingent coupon notes due May 30, 2024 linked to 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 quarter, the notes pay a contingent coupon at a rate of 5% per year if each index closes at or above 60% of its initial level on the observation date for that period
The notes are callable at par on any coupon payment date after one year.
If each index finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worse performing index.
Goldman Sachs & Co. LLC 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: | $1,351,000
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Maturity: | May 30, 2024
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Coupon: | 5% per year; payable each quarter that each index closes at or above 60% of its initial level on observation date for that period
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless either index falls by more than 40%, in which case full exposure to decline of worse performing index
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Call option: | At par on any coupon payment date after one year
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Initial levels: | 1,514.109 for Russell and 2,826.06 for S&P
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Trigger level: | 60% of initial underlier level
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Pricing date: | May 24
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Settlement date: | May 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.47%
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Cusip: | 40056FF42
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