Published on 5/27/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3.34 million callable range accrual notes tied to Libor, S&P 500
By Susanna Moon
Chicago, May 27 - Goldman Sachs Group, Inc. priced $3.34 million of callable quarterly range accrual notes due May 31, 2026 linked to the S&P 500 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7.5% for the first year. After that, it will be 7.5% for each day that Libor is 6.5% or less and the index closes above the trigger level, which is 75% of the initial level. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
|
Issue: | Callable quarterly range accrual notes
|
Underlying index: | S&P 500
|
Amount: | $3,338,000
|
Maturity: | May 31, 2026
|
Coupon: | 7.5% for one year; then 7.5% for each day that Libor is 6.5% or less and index closes above trigger level; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par on interest payment dates beginning May 31, 2012
|
Initial index level: | 1,320.47
|
Trigger level: | 990.353, or 75% of initial level
|
Pricing date: | May 25
|
Settlement date: | May 31
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 4.85%
|
Cusip: | 38134UUU3
|
© 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.