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Goldman to price buffered range accrual notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Aug. 1 - Goldman Sachs Group, Inc. plans to price four-year buffered range accrual medium-term notes linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 7% to 7.5% per year multiplied by the proportion of days on which the index closes above the trigger level, which will be 80% of the initial index level. Interest will be payable monthly.
If the final index level is greater than or equal to the trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is below the trigger level.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 38143U5K3.
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