By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – GS Finance Corp. priced $132,000 of autocallable contingent coupon notes due Aug. 5, 2019 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 pay a contingent quarterly coupon at an annual rate 5.5% if each index closes at or above its 70% coupon barrier on the observation date that quarter.
The notes will be called at par if each index closes at or above its initial level on any coupon payment date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below its initial level and either index has closed below its 70% trigger level any day during the life of the notes, in which case investors will be fully exposed to the decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
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, S&P 500
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Amount: | $132,000
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Maturity: | Aug. 5, 2019
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Coupon: | 5.5%, payable quarterly if each index closes at or above 70% coupon barrier on observation date that quarter
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Price: | Par
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Payout at maturity: | Par plus final coupon unless either index finishes below initial level and either index closes below 70% trigger level during life of notes, in which case full exposure to losses of worse performing index
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Call: | At par if each index closes at or above its initial level on any coupon payment date after six months
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Initial levels: | 2,441.32 for S&P, 1,374.231 for Russell
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Trigger levels: | 70% of initial levels
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.53%
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Cusip: | 40054LLW2
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