By William Gullotti
Buffalo, N.Y., July 21 – GS Finance Corp. priced $1.47 million of callable contingent coupon index-linked notes due July 12, 2028 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 6.75% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after six months.
If the notes have not been called and each index finishes at or above its 70% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 30%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $1,465,000
|
| Maturity: | July 12, 2028
|
| Coupon: | 6.75% annualized rate, payable monthly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless worst performer finishes below trigger buffer level, in which case investors will lose 1% for every 1% that the worst performer declines beyond 30%
|
| Call option: | At par plus any coupon due on any quarterly call observation date after six months
|
| Initial index levels: | 4,398.95 for S&P, 33,734.88 for Dow
|
| Trigger buffer levels: | 70% of initial levels
|
| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | July 7
|
| Settlement date: | July 12
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.52%
|
| Cusip: | 40057TDU5
|
|
|
© 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.
