By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – GS Finance Corp. priced $8.14 million of callable contingent coupon notes due Jan. 27, 2021 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if each underlying component closes above its 70% coupon barrier on each trading day during the observation date for that quarter.
The notes are callable at par on any review date from July 2017 to April 2020.
The payout at maturity will be par plus the contingent coupon unless any underlying component finishes below its 55% downside threshold, in which case investors will be fully exposed to the losses of the worse performing component.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE exchange-traded fund,
|
| Amount: | $8,143,000
|
| Maturity: | Jan. 27, 2021
|
| Contingent coupon: | Contingent quarterly coupon of 9.5% per year if each asset closes at or above 70% coupon barrier on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each index asset finishes above 55% downside threshold level; otherwise 1% loss for each 1% decline of lesser-performing index
|
| Call: | Callable at par plus any coupon due after six months
|
| Initial index levels: | 2,296.68 for S&P 500, 1,375.595 for Russell 2000 and $60.07 for EFT
|
| Coupon barrier levels: | 70% of initial levels
|
| Downside thresholds: | 55% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.425%
|
| Cusip: | 40054KU87
|
|
|
© 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.
