By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – GS Finance Corp. priced $600,000 of callable contingent coupon notes due June 27, 2025 linked to the iShares MSCI Emerging Markets ETF 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.
Each month, the notes pay a contingent coupon at an annual rate of 0.75% if each asset closes at or above 80% of its initial level on the observation date that month.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon unless either asset declines by more than 20%, in which case investors will lose 1% for every 1% that the lesser-performing asset declines from its initial level.
Goldman Sachs & Co. is the underwriter.
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 assets: | iShares MSCI Emerging Markets ETF and Russell 2000 index
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Amount: | $600,000
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Maturity: | June 27, 2025
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Coupon: | 9.75% per year, payable each month that each asset closes at or above 80% of initial level on observation date that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless either asset declines by more than 20%, in which case 1% loss for every 1% that lesser-performing asset declines from initial level
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Call option: | At par on any coupon payment date after one year
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Initial levels: | 1,547.107 for Russell 2000 and $46.11 for ETF
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.4%
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Cusip: | 40055ABM8
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