By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – GS Finance Corp. priced $631,000 of callable contingent coupon notes due Oct. 25, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes pay a contingent coupon at a rate of 8% per year if each index closes at or above its coupon trigger level, 80% of its initial level, on the observation date for that period.
After six months, the notes are callable at par plus any coupon due on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus the coupon, if any, unless either index finishes below its buffer level, 80% of its initial level, in which case investors will be exposed to the loss of the least performing index beyond the buffer.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $631,000
|
| Maturity: | Oct. 25, 2024
|
| Coupon: | 8% per year; payable each six months that each index closes at or above on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, unless either index finishes below buffer level, in which case exposure to loss of least performing index beyond buffer
|
| Call option: | At par plus any coupon due on any quarterly observation date
|
| Initial index levels: | 2,986.2 for S&P, 1,535.482 for Russell
|
| Coupon trigger levels: | 80% of initial values
|
| Buffer levels: | 80% of initial values
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 25
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.35%
|
| Cusip: | 40056XET9
|
|
|
© 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.
