Chicago, Feb. 14 – GS Finance Corp. priced $300,000 of callable contingent coupon notes due Jan. 31, 2029 linked to the performances of 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 annualized rate of 7% if each index closes at or above 60% of its initial level on the observation date for that period. After 20 quarterly coupon dates, the coupon will step up to 8% for the next 12 payment dates and 12% for the final eight payment dates.
The notes will be callable at par plus any coupon on any coupon payment date beginning in January 2020 and ending with the October 2028 date.
The payout at maturity will be par plus the final coupon unless either index falls by more than 40%, in which case investors will be fully exposed to the decline of the lower performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. 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 index and S&P 500 index
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Amount: | $300,000
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Maturity: | Jan. 31, 2029
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Contingent coupon: | 7% per year, payable quarterly if each index closes at or above coupon trigger level on the observation date for that period; coupon steps up to 8% after five years and steps up again to 12% after eight years
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Price: | Par
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Payout at maturity: | Par plus final coupon, unless either index falls by more than 40%, in which case investors will be fully exposed to the decline of the lower performing index.
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Call option: | At par plus any coupon on any coupon payment date beginning in January 2020 and ending in October 2028
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Initial levels: | 1,471.448 for Russell and 2,640.00 for S&P
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Coupon trigger level: | 60% of initial levels
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Pricing date: | Jan. 29
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Settlement date: | Jan. 31
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Agent: | Goldman Sachs & Co.
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Fees: | 4.45%
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Cusip: | 40056ER67
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