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Goldman Sachs plans range accrual notes on S&P 500, six-month Libor
By Toni Weeks
San Diego, Sept. 4 - Goldman Sachs Group, Inc. plans to price callable monthly range accrual notes linked to the S&P 500 index and six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature in 12 years.
The coupon will accrue at 6.75% multiplied by the proportion of days on which the index closes above the index trigger level and six-month Libor is 6% or less. The index trigger level is expected to be 75% to 77.5% of the initial level and will be set at pricing. Interest is payable monthly.
The payout at maturity will be par.
After one year, the notes (Cusip: 38143U6X4) will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
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