By Wendy Van Sickle
Columbus, Ohio, May 24 – GS Finance Corp. priced $504,000 of callable contingent coupon notes due May 26, 2021 linked to the worst performing of the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 9.5% per year if each asset closes at or above its barrier level, 70% of its initial level, on the observation date for that period.
The notes are callable at par of $1,000 on any contingent coupon payment date beginning in May 2019 and ending in February 2021.
The payout at maturity will be par plus the final coupon payment unless either asset finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least-performing asset.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | Euro Stoxx 50 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Amount: | $504,000
|
| Maturity: | May 26, 2021
|
| Coupon: | 9.5% per year, payable quarterly if each asset closes at or above 70% of initial levels on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset declines by more than 40%, in which case full exposure to losses of least-performing asset
|
| Call option: | At par on any interest payment date from May 2019 through February 2021
|
| Initial levels: | 3,587.01 for index, $35.52 for Oil & Gas
|
| Pricing date: | May 19
|
| Settlement date: | May 26
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 2.65%
|
| Cusip: | 40054LCV4
|
|
|
© 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.
