By Kiku Steinfeld
Chicago, July 15 – GS Finance Corp. priced $1 million of callable contingent coupon notes due July 2, 2029 linked to the Russell 2000 index and the Euro Stoxx 50 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 an annual rate of 7% if each index closes at or above 70% of its initial level on the observation date for that quarter.
The notes are callable at par on any coupon payment date after six months.
If each index finishes at or above 50% of its initial level, the payout at maturity will be par plus the final coupon, if any. Otherwise, investors will be exposed to the decline of the worse performing index from its initial level.
Goldman Sachs & Co. LLC 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 : | $1,000,000
|
| Maturity: | July 2, 2029
|
| Coupon: | 7% per year payable quarterly if each index closes at or above 70% of its initial level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon, if any, unless either index falls by more than 50%, in which case full exposure to decline of worse performing index
|
| Call option: | At par on any coupon payment date after six months
|
| Initial levels: | 3,473.69 for Russell and 1,566.572 for Stoxx
|
| Coupon trigger levels: | 70% of its initial levels
|
| Trigger buffer level: | 50% of its initial levels
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.85%
|
| Cusip: | 40056FT70
|
|
|
© 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.
