Published on 11/27/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $530,000 callable monthly range accrual notes on indexes
By Marisa Wong
Madison, Wis., Nov. 27 - Goldman Sachs Group, Inc. priced $530,000 of autocallable monthly index-linked range accrual notes due Nov. 27, 2028 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 7.5% per year multiplied by the proportion of days on which each index closes at or above 50% of its initial level. Interest will be payable monthly.
After one year, the notes are callable at par plus any accrued interest on any monthly interest payment date.
If the notes are not called, the payout at maturity will be par unless either index finishes below the 50% trigger level, in which case investors will lose 1% for every 1% that the lesser performing index drops below its initial level.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly index-linked range accrual notes
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $530,000
|
| Maturity: | Nov. 27, 2028
|
| Coupon: | 7.5% per year multiplied by proportion of days on which each index closes at or above 50% of its initial level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 50% trigger level, in which case 1% loss for every 1% that lesser performing index drops below its initial level
|
| Call option: | At par plus any accrued interest on any monthly interest payment date after one year
|
| Initial levels: | 3,055.98 for Euro Stoxx, 1,124.92 for Russell
|
| Trigger levels: | 1,527.99 for Euro Stoxx, 562.46 for Russell; 50% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 27
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.3%
|
| Cusip: | 38147QN69
|
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