By Marisa Wong
Morgantown, W.Va., May 21 – GS Finance Corp. priced $940,000 of callable contingent coupon notes due May 2, 2029 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 a rate of 8.4% per year if each index closes at or above 75% of its initial level on the observation date for that quarter.
The notes are callable at par on any coupon payment date after one year.
If each index finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon, if any. Otherwise, investors will be exposed to the decline of the worse performing index from its initial level.
Goldman Sachs & Co. LLC 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: | $940,000
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Maturity: | May 2, 2029
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Coupon: | 8.4% per year; payable each quarter that each index closes at or above 75% of its initial level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus the final coupon, if any, unless either index falls by more than 40%, in which case full exposure to decline of worse performing index
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Call option: | At par on any coupon payment date after one year
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Initial levels: | 1,598.356 for Russell and 3,501.94 for Stoxx
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Pricing date: | April 29
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Settlement date: | May 2
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.2%
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Cusip: | 40056FD44
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