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Goldman plans 15-year callable range accrual notes on S&P 500, Libor
By Susanna Moon
Chicago, May 2 - Goldman Sachs Group, Inc. plans to price 15-year callable quarterly range accrual notes linked to the S&P 500 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8% for the first year. After that, it will accrue at 8% for each day that Libor is 6.5% or less and the S&P 500 closes above the trigger level, which is expected to be 72.5% to 77.5% of the initial level. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning in May 2012.
The exact deal terms will be set at pricing.
Goldman Sachs & Co. is the underwriter.
The Cusip is 38143UUH2.
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