Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for GS Finance Corp. > News item |
GS Finance plans contingent income callable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – GS Finance Corp. plans to price contingent income callable securities due March 5, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each index closes at or above its downside threshold level, 65% of its initial index level, on the determination date for that quarter.
The notes are callable at par on any quarterly determination date starting on Aug. 31, 2017 and ending on Dec. 3, 2018.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its 65% downside threshold level, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is acting as dealer.
The notes (Cusip: 40054KXC5) will price on Feb. 28 and settle three business days after pricing.
© 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.