By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – GS Finance Corp. priced $1.28 million of callable contingent coupon notes due Dec. 30, 2020 linked to the lesser performing of the Russell 2000 index and 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 six months, the notes will pay a contingent coupon at an annual rate of 6.65% if each index closes at or above 60% of its initial level on the determination date for that period.
The notes are callable at par on any coupon payment date beginning in June 2017.
If each index finishes at or above its 60% trigger level, the payout at maturity will be par plus the final coupon
If each index finishes above trigger, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1.28 million
|
| Maturity: | Dec. 30, 2020
|
| Coupon: | 6.65%, payable semiannually if each index closes at or above 60% trigger level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above trigger level, par plus final coupon; otherwise, full exposure to decline of lesser-performing index
|
| Call option: | At par on any coupon payment date beginning in June 2017
|
| Initial index levels: | 1,371.510 for Russell and 2,263.79 for S&P
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.45%
|
| Cusip: | 40054KRQ1
|
|
|
© 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.
