Published on 5/2/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $162,000 callable contingent coupon notes linked to S&P 500, Russell
By Susanna Moon
Chicago, May 2 – GS Finance Corp. priced $162,000 of callable contingent coupon notes due April 29, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a quarterly coupon at an annual rate of 7% if each index closes above the 60% barrier level on the observation date for that quarter.
The notes will be callable at par plus any coupon due on any payment date after one year.
The payout at maturity will be par plus any contingent coupon unless either index finishes below the 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | Russell 2000 and S&P 500
|
Amount: | $162,000
|
Maturity: | April 29, 2024
|
Coupon: | 7%, payable quarterly if each index closes at or above barrier on observation date
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to any loses of worse performing index
|
Call: | At par plus any coupon due on any coupon payment date beginning April 29, 2017
|
Initial levels: | 2,095.15 for S&P, 1,154.149 for Russell 200
|
Barrier levels: | 60% of initial levels
|
Pricing date: | April 27
|
Settlement date: | April 29
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 4.15%
|
Cusip: | 40054KAK2
|
|
|
© 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.