A story in the May 31 edition of the Prospect News Structured Products Daily incorrectly reported the period during which Goldman Sachs Group, Inc.'s $3.34 million callable quarterly range accrual notes will pay a fixed interest rate. In addition, the issuer corrected the Cusip number. A corrected version of the story follows:
By Susanna Moon
Chicago, May 27 - Goldman Sachs Group, Inc. priced $3.34 million of callable quarterly range accrual notes due May 31, 2026 linked to the S&P 500 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7.5% for the first three years. After that, it will be 7.5% multiplied by the proportion of days on which Libor is 6.5% or less and the index's closing level is greater than 75% of the initial level. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable quarterly range accrual notes
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Underlying index: | S&P 500
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Amount: | $3,338,000
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Maturity: | May 31, 2026
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Coupon: | 7.5% for three years; then 7.5% multiplied by proportion of days on which Libor is 6.5% or less and index closes above trigger level; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on interest payment dates beginning May 31, 2012
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Initial index level: | 1,320.47
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Trigger level: | 990.353, or 75% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.85%
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Cusip: | 38143UUU3
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