By Susanna Moon
Chicago, May 8 – GS Finance Corp. priced $2.5 million of callable contingent coupon notes due April 30, 2028 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.4% if each index closes at or above its 75% coupon barrier on the observation date for that month.
The notes are callable at par on any review date after six months.
The payout at maturity will be par unless either index closes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC 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: | Russell 2000 and S&P 500
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Amount: | $2,495,000
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Maturity: | April 30, 2033
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Coupon: | 8.4% annualized, payable monthly if each index closes at or above 75% coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | If each index finishes at or above 50% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index
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Call option: | At par on any interest payment date from October 2018 through March 2033
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Initial levels: | 1,557.895 for Russell and 2,666.94 for S&P
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Coupon barriers: | 75% of initial levels
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Trigger levels: | 50% of initial levels
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Pricing date: | April 26
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Settlement date: | April 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 5.04%
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Cusip: | 40055AWW3
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