By William Gullotti
Buffalo, N.Y., Jan. 26 – GS Finance Corp. priced $1.7 million of callable contingent coupon index-linked notes due Jan. 25, 2028 tied to 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.
The notes will pay a contingent semiannual coupon if the index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period. The first two coupons, if payable, will pay at a rate of $32 per $1,000 principal amount. The next two coupon payments will pay $37 per note and increase by $5 increments for the same intervals, with the final two coupon payments being payable at $52 per note.
After one year, the notes will be callable at the option of the issuer on any semiannual valuation date at par plus any coupon otherwise due.
If the notes are not called and the index finishes at or above 80% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will receive par.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1.7 million
|
| Maturity: | Jan. 25, 2028
|
| Coupon: | Payable semiannually if the index closes at or above coupon trigger level, on valuation date for that period; first two coupons will pay $32 per note, the following two will pay $37, the next two will pay $42, the next two will pay $47 and the final two will pay $52
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above coupon trigger, par plus final coupon; otherwise, par
|
| Call: | At par plus any coupon due on any semiannual review date after one year
|
| Initial index level: | 3,972.61
|
| Coupon trigger level: | 80% of initial level
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.04%
|
| Cusip: | 40057PGN6
|
|
|
|
|
© 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.
