By Wendy Van Sickle
Columbus, Ohio, June 8 – GS Finance Corp. priced $1.48 million of callable contingent coupon equity-linked securities due June 5, 2023 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 quarterly coupon at an annualized rate of 8.85% if each asset closes at or above its coupon barrier level, 70% 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, if any, unless any index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline 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 equity-linked securities
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Underlying assets: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $1,484,000
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Maturity: | June 5, 2023
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Contingent coupon: | 8.85% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon, unless any index finishes below 70% of initial level, in which case full exposure to loss
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Call option: | In whole at par plus any coupon due on any quarterly valuation date after six months
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Initial level: | 1,394.035 for Russell, 25,383.11 for Dow and 3,044.31 for S&P
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Coupon barriers: | 70% of initial levels
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Pricing date: | May 29
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Settlement date: | June 3
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.79%
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Cusip: | 40057C4L2
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