GS Finance plans callable contingent coupon notes tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., July 15 – GS Finance Corp. plans to price three-year callable contingent coupon notes 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 will be guaranteed by Goldman Sachs Group, Inc.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.

The notes will be callable at par plus the coupon, if any, on any interest payment date.

If the return of each index is greater than or equal to negative 30%, the payout at maturity will be par plus the final coupon, if applicable. Otherwise, investors will be fully exposed to the decline of the worse-performing index.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 40054KFM3.

© 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.