By Wendy Van Sickle
Columbus, Ohio, March 29 – GS Finance Corp. priced $703,000 of callable contingent coupon notes due March 29, 2025 linked to the worse 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.
The notes pay a contingent quarterly coupon if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that period. The coupon rate will be 7.15% per year for the first four years and 10% a year for the last four years.
The notes are callable at par of $1,000 on any contingent coupon payment date.
The payout at maturity will be par plus the final coupon payment unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss 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: | $703,000
|
| Maturity: | March 29, 2025
|
| Coupon: | Initially 7.15% per year, stepping up to 10% a year after four years, payable quarterly if each index closes at or above 65% of initial level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index declines by more than 40%, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 2,343.98 for S&P, 1,354.642 for Russell
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.65%
|
| Cusip: | 40054L3A0
|
|
|
© 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.
