By Sarah Lizee
Olympia, Wash., Sept. 15 – GS Finance Corp. priced $500,000 of callable contingent coupon index-linked notes due Sept. 10, 2026 linked to the lesser performing of 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.
The notes will pay a contingent quarterly coupon at annual rate of 8.1% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly call valuation date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 70% barrier, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | Sept. 10, 2026
|
| Coupon: | 8.1%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call option: | At par plus any coupon due on any quarterly call valuation date after one year
|
| Payout at maturity: | Par plus coupon if both indexes finish above barrier levels; otherwise, 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 3,426.96 for S&P and 1,535.304 for Russell
|
| Coupon barriers: | 70% of initial levels
|
| Barrier values: | 70% of initial levels
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 11
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.85%
|
| Cusip: | 40057CV65
|
© 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.
