Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
GS Finance plans contingent income callable notes linked to indexes
By Sarah Lizee
Olympia, Wash., Aug. 20 – GS Finance Corp. plans to price contingent income callable securities due Aug. 26, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon if each index closes at or above its downside threshold level, 60% of its initial level, on each trading day during that quarter. The contingent coupon rate is expected to be at least 7% per year and will be set at pricing.
The notes will be callable at par on any quarterly coupon payment date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index from its initial level.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
The notes will price Aug. 23.
The Cusip number is 40056X4L7.
© 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.