By Toni Weeks
San Diego, June 29 - Goldman Sachs Group, Inc. priced $5.3 million of buffered index-linked range accrual notes due June 29, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.4% per year multiplied by the proportion of days on which the index closes above 80% of the initial level. Interest is payable monthly.
If the index closes at or above 80% of the initial level, the payout at maturity will be par. If the index closes below the 80% trigger level, investors will lose 1% for every 1% decline beyond the 20% buffer.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Buffered index-linked range accrual notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $5.3 million
|
| Maturity: | June 29, 2017
|
| Coupon: | 7.4% per year multiplied by the proportion of days on which the index closes above 80% of the initial level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Initial index level: | 1,331.85
|
| Index trigger level: | 1,065.48, 80% of initial level
|
| Pricing date: | June 27
|
| Settlement date: | June 29
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.35%
|
| Cusip: | 38143UW72
|
© 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.
