By Sarah Lizee
Olympia, Wash., May 18 – GS Finance Corp. priced $2 million of callable contingent coupon equity-linked securities due May 19, 2026 linked to the worst performing of the Dow Jones industrial average, 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.
The notes pay a contingent monthly coupon at an annualized rate of 10% if each asset closes at or above its coupon barrier level, 60% 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 monthly valuation date after six months.
If the notes are not redeemed, the payout will be par plus the final coupon, if any, unless any index finishes below 60% 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, Russell 2000 index and S&P 500 index
|
| Amount: | $2 million
|
| Maturity: | May 19, 2026
|
| Contingent coupon: | 10% per year, payable monthly 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 60% 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 monthly valuation date after six months
|
| Initial level: | 1,237.554 for Russell, 23,625.34 for Dow and 2,852.50 for S&P
|
| Coupon barriers: | 60% of initial levels
|
| Final barriers: | 60% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.125%
|
| Cusip: | 40057C2T7
|
|
|
© 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.
