By Sarah Lizee
Olympia, Wash., Sept. 18 – GS Finance Corp. priced $220,000 of autocallable contingent coupon notes due March 22, 2028 linked to the worst performing of the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 5% if each index closes at or above its coupon barrier, 85% 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 determination date after one year.
If the notes are not called, the payout will be par if both indexes close above 85% of their initial levels.
Otherwise, investors will be exposed to the losses of the worst performing index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 and Russell 2000
|
Amount: | $220,000
|
Maturity: | March 22, 2028
|
Coupon: | 5%, payable monthly if each index closes at or above coupon barrier on observation date for that period
|
Price: | Par
|
Payout at maturity: | Par if both indexes close above 85% of their initial levels; otherwise, exposure to the losses of the worst performing index beyond 15%
|
Call: | Automatically at par if each index closes at or above initial levels on any quarterly determination date after one year
|
Initial levels: | 3,401.2 for S&P, 1,538.154 for Russell
|
Coupon barrier levels: | 85% of initial levels
|
Buffer levels: | 85% of initial levels
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 18
|
Underwriter: | Goldman Sachs & Co. LLC
|
Fees: | 4.15%
|
Cusip: | 40057CTC5
|
© 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.