Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
GS Finance eyes callable contingent coupon notes tied to Russell, S&P
By Devika Patel
Knoxville, Tenn., Aug. 21 – GS Finance Corp. plans to price callable contingent coupon notes due Aug. 31, 2023 linked to the least 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 will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon at an annual rate of between 5.1% and 6% if each index closes at or above 55% of their respective initial levels on the coupon payment date for that period. The exact coupon will be set at pricing.
Beginning on Feb. 15, 2019 and ending on Feb. 28, 2023, the notes are callable in whole at par plus the contingent coupon on any coupon payment date.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 55% of its initial level, in which case investors will lose 1% for each 1% loss of the worst performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40055QPV8) will price on Aug. 24 and settle on Aug. 31.
© 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.