By Sarah Lizee
Olympia, Wash., May 14 – GS Finance Corp. priced $5.35 million of callable contingent coupon notes due May 15, 2029 linked to 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 quarter, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 65% of its initial level on the observation date for that period. The contingent coupon rate will be 7.75% per year.
Beginning in August, the notes are callable at par on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level.
Goldman Sachs & Co. LLC 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: | $5.35 million
|
| Maturity: | May 15, 2029
|
| Coupon: | 7.75% per year; payable quarterly if each index’s closing level is greater than or equal to 65% of initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level
|
| Call option: | Beginning in August, at par on any coupon payment date
|
| Initial levels: | 2,881.40 for S&P and 1,572.993 for Russell
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.45%
|
| Cusip: | 40056FGT6
|
© 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.
