By Sarah Lizee
Olympia, Wash., June 5 – GS Finance Corp. priced $772,000 of autocallable contingent coupon notes due June 7, 2023 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.45% if each index closes at or above its trigger level, 75% of its initial level, on the observation date for that quarter.
Beginning in May 2020, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless either index finishes below its trigger level, in which case investors will be fully exposed to the decline of the worse-performing index.
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: | Autocallable contingent coupon notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $772,000
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Maturity: | June 7, 2023
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Coupon: | 5.45%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its trigger level, in which case investors will be fully exposed to the decline of the worse-performing index
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Call: | Beginning in May 2020, automatically at par if each index closes at or above initial levels on any coupon determination date
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Initial levels: | 2,752.06 for S&P 500 and 1,465.487 for Russell 200
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Trigger levels: | 75% of initial levels
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Pricing date: | May 31
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Settlement date: | June 5
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.15%
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Cusip: | 40056FJ55
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