By Sarah Lizee
Olympia, Wash., March 24 – GS Finance Corp. priced $1.7 million of callable contingent coupon index-linked notes due March 18, 2021 linked to 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 14.07% if the index closes at or above 90% of its initial level on the related observation date.
The notes are callable at par plus any coupon due on any coupon payment date after six months.
The payout at maturity will be par plus any final coupon unless the index closes below 90% of its final level, in which case investors will lose 1% for every 1% that the index declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon index-linked notes
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Underlying index: | S&P 500
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Amount: | $1.7 million
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Maturity: | March 18, 2021
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Coupon: | 14.07%, payable each quarter that index closes at or above coupon trigger level on related observation date
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Price: | Par
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Payout at maturity: | Par plus any final coupon unless the index closes below 90% of its final level, in which case investors will lose 1% for every 1% that the index declines beyond 10%
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Call option: | At par plus any coupon due on any coupon payment date after six months
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Initial index level: | 2,711.02
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Coupon trigger level: | 90% of initial level
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Buffer level: | 90% of initial level
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Pricing date: | March 13
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Settlement date: | March 18
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.72%
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Cusip: | 40056YSA3
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