By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – GS Finance Corp. priced $893,000 of autocallable contingent coupon notes due Aug. 7, 2020 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 pay a contingent quarterly coupon at an annual rate of 10.5% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either underlying index finishes below its initial level and either index has ever closed below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $893,000
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Maturity: | Aug. 7, 2020
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Coupon: | 10.5%, payable quarterly at annualized rate if each index closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Call: | At par if each index closes at or above its initial level on any review date after six months
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Payout at maturity: | If each index closes above 70% trigger level every day during life of notes or finishes above initial level, par; otherwise, 1% loss for each 1% decline of worse performing index
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Initial levels: | 2,704.10 for S&P and 1,499.419 for Russell
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | Goldman Sachs & Co.
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Fees: | 0.74%
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Cusip: | 40056ERX8
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