By Susanna Moon
Chicago, Oct. 5 – GS Finance Corp. priced $4.08 million of autocallable contingent coupon notes due Sept. 29, 2027 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate if each index closes at or above its 72.5% coupon barrier on the review date for that quarter. The contingent coupon will be 7% for the first 24 payment dates, 10% for the next eight payment dates and 12% for the final eight payment dates.
The notes will be called at par if each index closes at or above its initial level on any interest payment date after one year.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index
|
| Amount: | $4,084,000
|
| Maturity: | Sept. 29, 2027
|
| Coupon: | 7% annualized for the first 24 payment dates, 10% for the next eight payment dates and 12% for the final eight payment dates, payable quarterly if each index closes at or above 72.5% coupon barrier on review date that quarter
|
| Price: | Par
|
| Call: | At par if each index closes at or above its initial level on any interest payment date from September 2018 through June 2027.
|
| Payout at maturity: | Par unless either index finishes below 50% trigger, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 1,484.813 for Russell, 2,507.04 for S&P
|
| Coupon barriers: | 72.5% of initial levels
|
| Trigger levels: | 50% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 29
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.78%
|
| Cusip: | 40054LS96
|
|
|
|
|
© 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.
