By Wendy Van Sickle
Columbus, Ohio, Dec. 22 – GS Finance Corp. priced $700,000 of autocallable contingent coupon index-linked notes due June 24, 2022 tied to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.75% if each index closes above its 70% coupon barrier on the related observation date.
The notes will be called at par plus a contingent coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par if both indexes finish above their initial levels or never close below their 75% trigger levels any day during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
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: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $700,000
|
| Maturity: | June 24, 2022
|
| Coupon: | 9.75%, payable quarterly if each index closes above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if both indexes finish above initial levels or never close below trigger level; otherwise, full exposure to losses of worst performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above its initial level on any quarterly call observation date after six months
|
| Initial index levels: | 1,978.045 for Russell and 3,722.48 for S&P
|
| Coupon trigger levels: | 75% of initial levels
|
| Trigger levels: | 75% of initial levels
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 22
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.05%
|
| Cusip: | 40057EUS4
|
|
|
© 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.
