Published on 8/19/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3.65 million trigger phoenix autocallables linked to Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Aug. 19 – Goldman Sachs Group, Inc. priced $3.65 million of trigger phoenix autocallable optimization securities due Aug. 23, 2018 linked to the worst performing of 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 contingent coupon at the rate of 8.35% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning in February 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $3,649,000
|
| Maturity: | Aug. 23, 2018
|
| Coupon: | 8.35% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus final contingent coupon; otherwise, full exposure to losses of worst-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date beginning in February 2016
|
| Initial levels: | 1,225.091 for Russell 2000 and 3,497.90 for Euro Stoxx 50
|
| Barrier levels: | 857.564 for Russell 2000 and 2,448.530 for Euro Stoxx 50; 70% of initial levels
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 20
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.25%
|
| Cusip: | 38148X183
|
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