By Kiku Steinfeld
Chicago, Aug. 24 – GS Finance Corp. priced $1 million of autocallable contingent coupon notes due Nov. 10, 2021 linked to the S&P 500 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 will pay a contingent quarterly coupon if each index closes at or above its 60% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 10.57%.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus any coupon due unless either index closes below 60% of its initial level on any day during the life of the notes and the final value of one of the underlying indexes is less than its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1 million
|
| Maturity: | Nov. 10, 2021
|
| Contingent coupon: | Payable quarterly if each index closes at or above coupon trigger level on the determination date for that period; annual coupon rate is 10.57%
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless either index closes below barrier level on any day during the life of the notes and the final value of one of the underlying indexes is less than its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date
|
| Initial index levels: | 1,546.237 for Russell, 3,327.77 for S&P
|
| Coupon trigger levels: | 60% of initial levels
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.35%
|
| Cusip: | 40057CMM0
|
© 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.
