By Taylor Fox
New York, Nov. 2 – GS Finance Corp. priced $984,000 of callable contingent coupon index-linked notes due Oct. 6, 2025 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.
The notes will pay a contingent quarterly coupon at annual rate of 5% if the index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly coupon payment date after one year.
The payout at maturity will be par plus any final coupon unless the index finishes below its 60% barrier, in which case investors will lose 1% for each 1% decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: $984,000
|
| Maturity: | Oct. 6, 2025
|
| Coupon: | 5%, payable quarterly if index closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if index finishes above barrier levels; otherwise 1% for each 1% decline of index from initial level
|
| Call option: | At par plus any coupon due on any quarterly coupon payment date after one year
|
| Initial levels: | 3,363
|
| Coupon barriers: | 70% of initial levels
|
| Barrier values: | 60% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.06%
|
| Cusip: | 40057CRL7
|
© 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.
