By Angela McDaniels
Tacoma, Wash., Feb. 29 – GS Finance Corp. priced $1.55 million of callable contingent coupon notes due Feb. 28, 2019 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Goldman Sachs Group, Inc. guarantees the notes.
Each quarter, the notes pay a contingent coupon at the rate of 8% per year if each index’s closing level is greater than or equal to 65% of its initial level on the determination date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
If the notes have not been called and the return of each index is greater than or equal to negative 35%, the payout maturity will be par plus the contingent coupon. If the return of either index is less than negative 35%, investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and Dow Jones industrial average
|
| Amount: | $1.55 million
|
| Maturity: | Feb. 28, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8% per year if each index’s closing level is greater than or equal to 65% of initial level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 35%, par plus contingent coupon; if return of either index is less than negative 35%, full exposure to decline of lesser-performing index
|
| Call: | Notes are callable at par plus contingent coupon on any interest payment date
|
| Initial level: | 1,031.576 for Russell 2000 and 16,697.29 for Dow
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.925%
|
| Cusip: | 40054K2V7
|
© 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.
