Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for GS Finance Corp. > News item |
GS Finance eyes autocallable contingent coupon notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., March 4 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due Oct. 5, 2020 linked to the S&P 500 index 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.
The notes will pay a contingent quarterly coupon at an annual rate of between 5.75% and 6.75% if each index closes at or above the coupon trigger level, 70% of its initial level, on the review date for that quarter. The coupon rate will be determined at pricing.
Beginning in September, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any coupon observation date.
The payout at maturity will be par unless either index ever closes below 70% of its initial value during the life of the notes, in which case investors will be exposed to the losses of worse performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056F2G9) will price on March 26.
© 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.