By Sarah Lizee
Olympia, Wash., Jan. 29 – GS Finance Corp. priced $2.43 million of callable contingent coupon notes due Jan. 30, 2024 linked to 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.35% if each index’s closing level is greater than or equal to 60% of its initial level on the observation date for that quarter.
Beginning in January 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index declines by more than 40%, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $2,429,000
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Maturity: | Jan. 30, 2024
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Coupon: | 6.35%, payable quarterly if each index’s closing level is greater than or equal to 60% of initial level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index declines by more than 40%, in which case 1% loss for every 1% that lesser-performing index declines from initial level
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Call option: | Beginning in January 2020, notes are callable at par on any coupon payment date
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Initial index levels: | 1,482.853 for Russell 2000 and 2,664.76 for S&P 500
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.87%
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Cusip: | 40056ERF7
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