By Toni Weeks
San Luis Obispo, Calif., Oct. 31 - Goldman Sachs Group, Inc. priced $374,000 of callable monthly Russell 2000 index-linked range accrual notes due Oct. 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8% 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 unless the final index level falls below 50% of the initial level, in which case investors will be fully exposed to losses from the initial level.
The notes will be callable at par on any interest payment date beginning Oct. 31, 2014.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $374,000
|
| Maturity: | Oct. 31, 2023
|
| Coupon: | 8% multiplied by proportion of days on which index closes at or above trigger level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index return is at least negative 50%; otherwise, full exposure to losses from initial level
|
| Call option: | At par on any interest payment date beginning Oct. 31, 2014
|
| Initial level: | 1,121.07
|
| Trigger level: | 896.856, 80% of initial level
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.45%
|
| Cusip: | 38147QXW1
|
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