Published on 6/14/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10.42 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, June 14 – GS Finance Corp. priced $10.42 million of trigger callable contingent yield notes due June 18, 2018 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each index closes at or above its barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless any index finishes below its 65% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $10,424,000
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| Maturity: | June 18, 2018
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| Coupon: | 11% per year, payable quarterly if each index closes at or above its barrier level on the determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case full exposure to loss of worst performing index
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| Call option: | At par quarterly on any coupon date
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| Initial levels: | 2,096.07 for S&P, 2,911.11 for Euro Stoxx, 1,163.931 for Russell
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| Barrier/downside threshold: | 65% of initial levels
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| Pricing date: | June 10
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| Settlement date: | June 17
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.675%
|
| Cusip: | 36250Y270
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