By Susanna Moon
Chicago, Aug. 31 – GS Finance Corp. priced $7.93 million of callable contingent coupon notes due Aug. 31, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5.0508% if each index closes at or above its 60% coupon barrier on review date for that month.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | S&P 500 index and Russell 2000 index
|
| Amount: | $7,931,000
|
| Maturity: | Aug. 31, 2021
|
| Coupon: | 5.0508% annualized, payable monthly if each index closes at or above 60% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either index finishes below 60% trigger, in which case 1% loss for each 1% decline of worst performing index
|
| Call option: | At par on any contingent coupon payment date beginning in August 2018
|
| Initial levels: | 2,444.24 for S&P and 1,382.229 for Russell
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.76%
|
| Cusip: | 40054LML5
|
|
|
|
|
© 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.
