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GS Finance plans callable range accrual notes on Russell, Euro Stoxx
By Devika Patel
Knoxville, Tenn., Aug. 21 – GS Finance Corp. plans to price callable range accrual notes due Feb. 28, 2025 tied to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at a rate of 8.5% per year for each day that both indexes close at or above 70% of their respective initial index levels. Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Aug. 28, 2018.
The payout at maturity will be par if the least-performing index finishes at or above 80% of its initial level.
Otherwise, investors lose 1% for each 1% decline of the least-performing index beyond 20%.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40054LPW8) will price Aug. 23 and settle Aug. 28.
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