Published on 4/30/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $4 million range accrual notes linked to indexes
By Angela McDaniels
Tacoma, Wash., April 30 - Goldman Sachs Group, Inc. priced $4 million of callable monthly range accrual notes due April 30, 2024 linked to the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 8.65% per year multiplied by the proportion of days on which each index closes at or above its trigger level, 73.5% of its initial level. Interest is payable monthly.
The payout at maturity will be par unless the final level of any index is less than 65% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
Beginning April 30, 2015, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
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| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index and S&P 500 index
|
| Amount: | $4 million
|
| Maturity: | April 30, 2024
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| Coupon: | 8.65% per year multiplied by proportion of days on which each index closes at or above trigger level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final level of any index is less than 65% of initial level, in which case full exposure to decline of worst-performing index
|
| Call option: | At par on any interest payment date from April 30, 2015 onward
|
| Initial index levels: | 1,117.062 for Russell 2000, 3,165.84 for Euro Stoxx 50 and 1,869.43 for S&P 500
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| Trigger levels: | 821.04057 for Russell 2000, 2,362.89240 for Euro Stoxx 50 and 1,374.03105 for S&P 500; 73.5% of initial levels
|
| Pricing date: | April 28
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| Settlement date: | April 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 38147Q4H6
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