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Goldman plans callable monthly range accrual notes tied to Euro Stoxx
By Susanna Moon
Chicago, Sept. 6 - Goldman Sachs Group, Inc. plans to price callable monthly Euro Stoxx 50 index-linked range accrual notes due Sept. 26, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 8.5% annualized for each day that the index closes at or above trigger level, 72.5% of the initial index level, with the exact trigger level to be set at pricing. Interest is payable monthly.
The payout at maturity will be par if the index falls by up to 50%.
Otherwise, investors will be fully exposed to any losses if the index falls below the 50% trigger level.
The notes will be callable at par on any interest payment date beginning Sept. 26, 2014.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 38147QUA2.
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