By Kiku Steinfeld
Chicago, March 17 – GS Finance Corp. priced $7.38 million of callable contingent coupon notes due March 10, 2022 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annual rate of 5% if each index closes at or above 60% of its initial level on the observation date.
The notes are callable at par plus any coupon on any coupon payment date.
The payout at maturity will be par plus the final coupon unless any index finishes below its trigger level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
Amount: | $7,381,000
|
Maturity: | March 10, 2022
|
Coupon: | 5% annualized, payable each month if each index closes at or above 60% of its initial level on determination date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index
|
Call option: | At par plus any coupon on any coupon payment date
|
Initial levels: | 2,972.37 for S&P and 25,864.78 for for Dow
|
Trigger levels: | 60% of initial levels
|
Pricing date: | March 6
|
Settlement date: | March 11
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 1.65%
|
Cusip: | 40056YSG0
|
|
© 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.