By Susanna Moon
Chicago, March 2 – GS Finance Corp. priced $2.16 million of callable contingent coupon notes due Feb. 28, 2027 linked to the lesser performing of 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 quarterly coupon at an annual rate of 8% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,157,000
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Maturity: | Feb. 28, 2027
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Contingent coupon: | 8% annualized, payable quarterly if each index closes at or above 70% coupon barrier on the determination date for that quarter
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Price: | Par
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Payout at maturity: | Par if each index finishes above 50% trigger level; otherwise 1% loss for each 1% decline of worse performing index
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Call option: | At par on any coupon payment date from February 2018 through November 2026
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Initial levels: | 2,367.34 for S&P and 1,394.525 for Russell
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Coupon barriers: | 1,657.138 for S&P and 976.1675 for Russell, or 70% of initial levels
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Trigger levels: | 50% of initial levels
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Pricing date: | Feb. 24
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co.
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Fees: | 4.45%
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Cusip: | 40054KVL7
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