Goldman plans callable quarterly range accrual notes on Libor, Russell

By Marisa Wong

Madison, Wis., Nov. 19 - Goldman Sachs Group, Inc. plans to price callable quarterly range accrual notes due November 2023 linked to Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 8.5% per year multiplied by the proportion of days on which the index closes at or above 70% of the initial index level and Libor is 6% or less. Interest will be payable quarterly.

The payout at maturity will be par if the index finishes at or above 60% of the initial level. Otherwise, investors will share fully in losses from the initial level.

Beginning in November 2015, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The notes will price and settle in November.

The Cusip number is 38147QV60.

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