Published on 4/27/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.05 million trigger callable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 27 – GS Finance Corp. priced $4.05 million of trigger callable contingent yield notes due Oct. 29, 2018 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 9.4% if each index closes at or above its barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date on or after May 2, 2017.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $4.05 million
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| Maturity: | Oct. 29, 2018
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| Coupon: | 9.4% per year, payable quarterly if each index closes at or above its barrier level each day for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to loss of worst performing index
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| Call option: | At par quarterly on any coupon date on or after May 2, 2017
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| Initial levels: | 2,091.58 for S&P, 3,141.12 for Euro Stoxx, 1,146.690 for Russell
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| Barrier levels: | 1,359.527 for S&P, 2,041.728 for Euro Stoxx, 745.349 for Russell; 65% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.175%
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| Cusip: | 36250E837
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