Published on 12/3/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.15 million callable contingent coupon notes on Russell, S&P
By Tali Rackner
Norfolk, Va., Dec. 3 – Goldman Sachs Group, Inc. priced $4.15 million of callable contingent coupon notes due Nov. 27, 2019 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 will pay a coupon of 1.5375% each quarter only if both indexes close at or above 60% of their initial levels on the determination date for that quarter.
The notes are callable at par on any interest payment date beginning Nov. 27, 2016, and ending Aug. 27, 2019.
If the notes have not been called and the return of each index is at least negative 40%, the payout at maturity will be par plus the contingent coupon.
If the return of either index is less than negative 40%, investors will share fully in the losses of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $4,148,000
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| Maturity: | Nov. 27, 2019
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| Coupon: | 1.5375% each quarter only if both indexes close at or above 60% of initial levels on the determination date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if return of each index is at least negative 40%; otherwise, full exposure to losses of lesser-performing index
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| Call option: | At par on any interest payment date beginning Nov. 27, 2016, and ending Aug. 27, 2019
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| Initial levels: | 1,180.359 for Russell 2000 and 2,086.59 for S&P 500
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 27
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 3.55%
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| Cusip: | 38148THH5
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