By Susanna Moon
Chicago, April 28 – GS Finance Corp. priced $280,000 of callable contingent coupon notes due April 28, 2022 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.2% if each index closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below it 50% trigger level, in which case investors will be fully exposed to the decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $280,000
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Maturity: | April 28, 2022
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Coupon: | 6.2% per year, payable quarter if each index closes at or above 50% coupon barrier on determination date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to losses of worse performing index
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Call option: | At par on any interest payment date from April 2018 through January 2022
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Initial levels: | 1,411.077 for Russell 2000 and 2,388.61 for S&P 500
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Trigger levels: | 50% of initial levels
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Pricing date: | April 25
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Settlement date: | April 28
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 1.35%
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Cusip: | 40054L4N1
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