By Angela McDaniels
Tacoma, Wash., July 1 – Goldman Sachs Group, Inc. priced $2.63 million of autocallable contingent coupon notes due July 11, 2030 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 7.65% per year if each index closes at or above its coupon trigger level, 60% of its initial level, on the review date for that quarter.
Beginning a year after issuance, the notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly determination date.
If the notes have not been called and the return of each index is negative 40% or greater, the payout at maturity will be par plus the contingent coupon.
If the return of either index is less than negative 40%, investors will share fully in the losses of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $2,628,000
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Maturity: | July 11, 2030
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Coupon: | Each quarter, notes pay coupon at rate of 7.65% per year if each index closes at or above coupon trigger level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if return of each index is negative 40% or greater; if return of either index is less than negative 40%, full exposure to losses of lesser-performing index
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Call: | From June 2016 onward, notes will be called at par plus coupon if each index closes at or above initial level on any quarterly determination date
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Initial levels: | 1,279.794 for Russell 2000 and 3,621.37 for Euro Stoxx 50
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Coupon trigger levels: | 767.8764 for Russell 2000 and 2,172.822 for Euro Stoxx 50; 60% of initial levels
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Pricing date: | June 26
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Settlement date: | June 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.2%
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Cusip: | 38148T6R5
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