By Susanna Moon
Chicago, June 15 - Goldman Sachs Group, Inc. priced $5 million of callable quarterly range accrual notes due June 16, 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% for each day that Libor is 6.5% or less and the index closes above the trigger level, which is 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 three years.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $5 million
|
| Maturity: | June 16, 2026
|
| Coupon: | 7.5% for three years; then 7.5% for each day that Libor is 6.5% or less and index closes above trigger level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning on June 16, 2014
|
| Initial index level: | 1,271.83
|
| Trigger level: | 953.8725, 75% of initial level
|
| Pricing date: | June 13
|
| Settlement date: | June 16
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.98%
|
| Cusip: | 38143UVK4
|
© 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.
