By Sarah Lizee
Olympia, Wash., Sept. 30 – GS Finance Corp. priced $2.29 million of callable contingent coupon notes due Oct. 1, 2029 linked to the S&P 500 index and the Russell 2000 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 closes at or above 75% of its initial level on the observation date for that period. The coupon rate will be 7% per year for the first 20 coupon payment dates, 8.5% per year for the next 12 coupon payment dates and 10% for the remaining coupon payment dates.
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 exposed to the loss of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $2,288,000
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Maturity: | Oct. 1, 2029
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Coupon: | Notes pay a contingent coupon if each index closes at or above 75% of its initial level on the observation date for that period; coupon rate will be 7% per year for the first 20 coupon payment dates, 8.5% per year for the next 12 coupon payment dates and 10% for the remaining coupon payment dates
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Price: | Par
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Payout at maturity: | Par unless either index finishes below 60% of its initial level, in which case investors will be exposed to the loss of the least performing index
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Call option: | At par on any coupon payment date
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Initial index levels: | 1,550.654 for Russell, 2,984.87 for S&P
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.65%
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Cusip: | 40056XAJ5
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