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Goldman plans callable monthly range accrual notes on Euro Stoxx 50
By Jennifer Chiou
New York, June 19 – Goldman Sachs Group, Inc. plans to price callable monthly range accrual notes due June 27, 2029 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 7.1% multiplied by the proportion of days on which the index closes at or above 80% of the initial index level. Interest is payable monthly.
The payout at maturity will be par if the index finishes at or above 50% of the initial level. Investors will be fully exposed to losses from the initial level if the index finishes below the 50% trigger.
The notes will be callable at par on any interest payment date beginning on June 27, 2015.
The notes (Cusip: 38147QB88) are expected to price on June 24 and settle on June 27.
Goldman Sachs & Co. is the underwriter.
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