By Devika Patel
Knoxville, Tenn., April 22 – GS Finance Corp. priced $588,000 of callable contingent coupon notes due April 25, 2021 linked to the S&P 500 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 the rate of 4.125% per year if the index closes at or above its barrier level, 55% of its initial level, on the observation date for that quarter.
The notes are callable at par of $1,000 on any contingent coupon payment after July 25, 2016.
The payout at maturity will be par plus the final coupon payment unless the index finishes below 55% of its initial level, in which case investors will be fully exposed to the decline.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Amount: | $588,000
|
| Maturity: | April 25, 2021
|
| Coupon: | 4.125% per year, payable quarterly if the index closes at or above 55% of initial level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless index declines by more than 45%, in which case full exposure to losses
|
| Call option: | At par on any interest payment date after July 25, 2016
|
| Initial level: | 2,102.40
|
| Barrier level: | 1,156.32, 55% of initial level
|
| Pricing date: | April 20
|
| Settlement date: | April 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.475%
|
| Cusip: | 40054KAQ9
|
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