By Sarah Lizee
Olympia, Wash., March 19 – GS Finance Corp. priced $397,000 of autocallable contingent coupon notes due June 21, 2021 tied to the S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 15% if each index closes at or above its trigger level, 50% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity.
The payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 50% trigger level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $397,000
|
| Maturity: | June 21, 2021
|
| Coupon: | 15% per year, payable each quarter that each index closes at or above its trigger level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date prior to maturity
|
| Initial levels: | 2,480.64 for S&P, 1,122.930 for Russell and 2,545.23 for Stoxx
|
| Coupon trigger/trigger levels: | 50% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.225%
|
| Cusip: | 40056YT79
|
|
|
© 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.
