By Tali Rackner
Minneapolis, Jan. 3 – GS Finance Corp. priced $6.15 million of callable contingent coupon notes due Dec. 27, 2023 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.9% if each index closes at or above 65% of its initial level on the observation date that quarter.
The notes are callable at par on any coupon payment date after one year.
If each index finishes positively or declines by up to 35%, the payout at maturity will be par plus the final coupon.
If either index declines by more than 35% but neither falls below 40%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index 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 indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $6,146,000
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Maturity: | Dec. 27, 2023
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Coupon: | 7.9% per year, payable each quarter that each index closes at or above 65% of initial level on observation date that quarter
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Price: | Par
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Payout at maturity: | If each index finishes positive or declines by up to 35%, par plus final coupon; if either index falls by more than 35% but not below 40%, par; otherwise, 1% loss for every 1% that lesser-performing index 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 and 3,570.78 for Euro Stoxx
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.025%
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Cusip: | 40055ABR7
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