By Susanna Moon
Chicago, Nov. 1 – GS Finance Corp. priced $1.11 million of callable contingent coupon notes due Oct. 26, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.75% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date after six months.
The payout at maturity will be par unless either asset closes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index or fund.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,108,000
|
| Maturity: | Oct. 26, 2021
|
| Coupon: | 7.75% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above 60% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index or fund
|
| Call option: | At par on any interest payment date beginning April 2019
|
| Initial levels: | 3,210.82 for Stoxx, $40.00 for fund
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 26
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40056EA99
|
|
|
|
|
© 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.
