By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – GS Finance Corp. priced $1.1 million of callable contingent coupon notes due Jan. 31, 2024 linked to the least performing of the Dow Jones Industrial Average, 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 if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period. The coupon will be 6.85% per year for the first four payment dates, 7.85% per year for the next four payment dates, 8.85% per year for the next four payment dates and 9.85% per year for the final four payment dates.
The notes will be callable in whole at par on any coupon payment date after one year
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus any coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Dow Jones Industrial Average, Russell 2000 index and S&P 500 index
|
| Amount: | $1,097,000
|
| Maturity: | Jan. 31, 2024
|
| Contingent coupon: | 6.85% per year for the first four payment dates, 7.85% per year for the next four payment dates, 8.85% per year for the next four payment dates and 9.85% per year for the final four payment dates, payable quarterly if each index closes at or above coupon barrier level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus any coupon; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 24,528.22 for Dow, 1,473.536 for Russell and 2,643.85 for S&P
|
| Coupon barriers: | 60% of initial levels
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.975%
|
| Cusip: | 40056ER91
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
