GS Finance plans callable contingent coupon notes on Russell, S&P 500

By Devika Patel

Knoxville, Tenn., March 26 – GS Finance Corp. plans to price callable contingent coupon index-linked notes due March 29, 2028 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of between 6.5% and 7.5% if both indexes close at or above 55% of their initial levels on the determination date for that quarter. The exact coupon will be set at pricing.

The notes will be callable, in whole but not in part, at par plus any coupon on any coupon payment date beginning on March 29, 2019 and ending on Dec. 29, 2027.

The payout at maturity will be par plus the final coupon if both indexes finish at or above 55% of their initial levels. Otherwise investors will lose 1% for each 1% decline of the index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40055AQS9) will price on March 27 and settle on March 29.

© 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.