By Jennifer Chiou
New York, Feb. 1 - Goldman Sachs Group, Inc. priced $6.5 million of callable monthly Russell 2000 index-linked range accrual notes due Jan. 31, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6% for each day that the index closes at or above the interest trigger level, which is 80% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index finishes below the 80% trigger level, in which case investors will share in losses beyond the buffer.
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: | $6.5 million
|
| Maturity: | Jan. 31, 2018
|
| Coupon: | At 6% annualized rate for each day that the index is at or above trigger level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 80% of initial level; otherwise, exposure to losses beyond buffer
|
| Call option: | At par on any interest payment date beginning on Jan. 31, 2014
|
| Initial index level: | 906.71
|
| Trigger level: | 725.368, 80% of initial level
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.75%
|
| Cusip: | 38141GLW2
|
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