By Sarah Lizee
Olympia, Wash., May 12 – GS Finance Corp. priced $779,000 of callable contingent coupon equity-linked securities due May 12, 2027 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 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.
The notes pay a contingent quarterly coupon at an annualized rate of 11% if each asset closes at or above its coupon barrier level, 65% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after six months.
If the notes are not redeemed, the payout will be par plus the final coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $779,000
|
| Maturity: | May 12, 2027
|
| Contingent coupon: | 11% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing index
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date after six months
|
| Initial level: | 1,282.927 for Russell, 23,875.89 for Dow and 9,101.876 for Nasdaq
|
| Coupon/final barriers: | 65% of initial levels
|
| Pricing date: | May 7
|
| Settlement date: | May 12
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.05%
|
| Cusip: | 40057EBB2
|
|
|
© 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.
