By Marisa Wong
Morgantown, W.Va., Sept. 27 – GS Finance Corp. priced $10.61 million of callable contingent coupon notes due Sept. 30, 2019 linked to the S&P 500 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 semiannual coupon at an annual rate of 7% if each index closes at or above its barrier level, 70% of its initial level, on the applicable semiannual observation date.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par plus the final coupon unless the return of either index is less than negative 30%, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $10,609,000
|
| Maturity: | Sept. 30, 2019
|
| Coupon: | 7%, payable semiannually if each index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless return of either index is less than negative 30%, in which case full exposure to decline of worse-performing index
|
| Call: | At par on any coupon payment date
|
| Initial index levels: | 1,254.623 for Russell and 2,164.69 for S&P
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.1%
|
| Cusip: | 40054KJ49
|
|
|
© 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.
