By Jennifer Chiou
New York, Dec. 30 – Goldman Sachs Group, Inc. priced $2,631,000 of callable contingent coupon notes due Jan. 2, 2023 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 will pay a contingent quarterly coupon of $16.75 for each $1,000 par amount if each index closes at or above 60% barrier level on the determination date for that quarter.
The notes are callable at par plus any contingent coupon beginning on March 31, 2015 up to Sept. 30, 2022.
The payout at maturity will be par plus the contingent coupon if the return of each index is greater than or equal to negative 40%.
If the return of either index is less than negative 40%, investors will be fully exposed to the losses of the worse-performing component and will receive no coupon.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,631,000
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| Maturity: | Jan. 2, 2023
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| Contingent coupon: | Quarterly at 1.675% if each component closes at or above 60% barrier level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 40%, par plus contingent coupon; if return of either index is less than negative 40%, investors will be fully exposed to losses of worse-performing component and will receive no coupon
|
| Call: | At par plus contingent coupon beginning on March 31, 2015 up to Sept. 30, 2022
|
| Initial index levels: | 2,088.77 for S&P 500 and 1,215.211 for Russell 2000
|
| Barrier level: | 60% of initial levels
|
| Pricing date: | Dec. 26
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| Settlement date: | Dec. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.3%
|
| Cusip: | 38147QPU4
|
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