By Susanna Moon
Chicago, March 17 – GS Finance Corp. priced $3.23 million of autocallable contingent coupon notes due March 30, 2026 linked to the Russell 2000 index and 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 pay a contingent quarterly coupon at an annual rate of 8.25% if each index closes at or above its 70% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any determination date after one year.
The payout maturity will be par plus the contingent unless either index finishes below the 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $3,228,000
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Maturity: | March 30, 2026
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Coupon: | 8.25% annualized, payable quarterly if each index closes at or above 70% coupon barrier level on determination date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent unless either index falls by more than 50%, in which case full exposure to any losses of worse performing index
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Call: | At par plus contingent coupon if each index closes at or above its initial level on any determination date beginning in March 2017
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Initial levels: | 2,015.93 for S&P and 1,066.666 for Russell
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Coupon barriers: | 1,411.151 for S&P and 746.6662 for Russell; 70% of initial levels
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Trigger levels: | 50% of initial levels
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Pricing date: | March 15
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Settlement date: | March 18
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.17%
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Cusip: | 40054K6E1
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