By Jennifer Chiou
New York, Feb. 1 - Goldman Sachs Group, Inc. priced $14,007,000 of callable monthly Russell 2000 index-linked range accrual notes due Jan. 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at a specified annualized rate for each day that the index closes at or above the interest trigger level, which is 75% of the initial level. Interest is payable monthly. The rate is 8% for the first 72 months, 10% for the next 24 months and 12% for the final 24 months.
The payout at maturity will be par unless the index finishes below the 50% of the initial level, in which case investors will share fully in losses.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $14,007,000
|
| Maturity: | Jan. 31, 2023
|
| Coupon: | At specified annualized rate for each day that the index is at or above trigger level of 75% of the initial level; payable monthly; rate is 8% for the first 72 months, 10% for the next 24 months and 12% for the final 24 months
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 50% of initial level; otherwise, exposure to losses
|
| Call option: | At par on any interest payment date beginning on Jan. 31, 2014
|
| Initial index level: | 906.71
|
| Coupon trigger level: | 680.0325, 75% of initial level
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.91%
|
| Cusip: | 38141GME1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
