Published on 6/2/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.31 million callable monthly range accrual notes on two indexes
By Marisa Wong
Morgantown, W.Va., June 2 – GS Finance Corp. priced $1.31 million of callable monthly index-linked range accrual notes due May 31, 2026 tied to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annualized rate of 5% for each day that each index closes at or above the coupon barrier level, 80% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1,313,000
|
| Maturity: | May 31, 2026
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| Coupon: | 5% annualized for each day that both indexes close at or above barrier levels; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 1,141.024 for Russell, 2,090.54 for S&P
|
| Barrier levels: | 912.8192 for Russell, 1,672.432 for S&P, 80% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.45%
|
| Cusip: | 40054KCJ3
|
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