New Issue: GS Finance sells $2.02 million callable contingent coupon index-linked notes

By William Gullotti

Buffalo, N.Y., May 20 – GS Finance Corp. priced $2.02 million of callable contingent coupon index-linked notes due May 20, 2032 tied to the Nasdaq-100 index, the S&P 500 Equal Weight index and the Russell 2000 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 an annual rate of 9.5% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.

The notes may be called at par plus any coupon due on any quarterly call observation date after six months.

If the notes have not been called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon trigger level but at or above its 60% trigger buffer level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer 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 indexes:	S&P 500 Equal Weight index, Russell 2000 index, Nasdaq-100 index
Amount:	$2,018,000
Maturity:	May 20, 2032
Coupon:	9.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
Price:	Par
Payout at maturity:	If each index finishes at or above coupon trigger, par plus final coupon; if worst performer finishes below coupon trigger but not below trigger buffer, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
Call:	At par plus any coupon due on any quarterly call observation date after six months
Initial index levels:	5,836.58 for S&P EW, 1,783.427 for Russell, 12,243.58 for Nasdaq
Trigger buffer levels:	60% of initial levels
Coupon trigger levels:	70% of initial levels
Pricing date:	May 16
Settlement date:	May 19
Agent:	Goldman Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057M3H0

© 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.