Chicago, June 15 – GS Finance Corp. priced $984,000 of market-linked securities that are callable with contingent coupon and contingent downside due March 5, 2025 linked to the lowest performing of the Invesco QQQ Trust, Series 1, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at a rate of 10% per year if each fund closes at or above 70% of its initial level on the observation date for that period.
The notes are redeemable at par on any monthly coupon payment date starting after six months.
If the notes are not redeemed, the payout at maturity will be par if all three funds close above their respective 70% downside threshold prices.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying funds: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
|
| Amount: | $984,000
|
| Maturity: | March 5, 2025
|
| Coupon: | 10% per year; payable each month that each fund closes at or above 70% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if all three funds close above downside threshold levels; otherwise, full exposure to losses of worst performer
|
| Call: | At par on any monthly coupon payment date starting after six months
|
| Initial levels: | $347.99 for Q3 earnings, $417.85 for S&P, $173.77 for Russell
|
| Coupon barrier levels: | 70% of initial levels
|
| Downside threshold levels: | 70% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.71%
|
| Cusip: | 40057RXW3
|
|
|
|
|
© 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.
