By William Gullotti
Buffalo, N.Y., April 26 – GS Finance Corp. priced $1.95 million of contingent coupon index-linked notes due April 7, 2026 tied 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 an annual rate of 7.75% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
If the index finishes at or above its 70% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the index from initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Contingent coupon index-linked notes
|
Underlying index: | S&P 500 index
|
Amount: | $1.95 million
|
Maturity: | April 7, 2026
|
Coupon: | 7.75% annualized rate, payable quarterly if the index closes at or above coupon trigger level on valuation date for that period
|
Price: | Par
|
Payout at maturity: | If the index finishes at or above trigger buffer level, par plus final coupon; otherwise, full exposure to decline from initial level
|
Initial index level: | 4,109.31
|
Trigger buffer level: | 70% of initial level
|
Coupon trigger level: | 70% of initial level
|
Pricing date: | March 31
|
Settlement date: | April 5
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 0.5%
|
Cusip: | 40057R7L6
|
|
|
© 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.