Published on 5/30/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $775,000 callable contingent coupon notes on indexes
By Marisa Wong
Madison, Wis., May 30 - Goldman Sachs Group, Inc. priced $775,000 of callable contingent coupon notes due May 30, 2017 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.85% if each index closes at or above its 65% trigger level on any quarterly observation date.
The notes are callable at par plus the contingent coupon on any quarterly call date.
If the notes have not been called, the payout at maturity will be par plus the contingent coupon unless any index finishes below the 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $775,000
|
| Maturity: | May 30, 2017
|
| Contingent coupon: | 7.85% annualized, payable quarterly if each index closes at or above trigger level on any quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any index finishes below the trigger level, in which case full exposed to any losses of worst performing index
|
| Call option: | At par plus contingent coupon on any quarterly call date
|
| Initial index levels: | 1,911.91 for S&P, 1,142.201 for Russell and 3,244.28 for Euro Stoxx
|
| Trigger levels: | 65% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | May 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2%
|
| Cusip: | 38147Q4Q6
|
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