By Marisa Wong
Madison, Wis., Feb. 14 - Goldman Sachs Group, Inc. priced $2.82 million of callable monthly Russell 2000 index-linked range accrual notes due Feb. 20, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate for each day that the index closes at or above the 72.5% coupon barrier level. The rate will be 7% for the first 72 months, 10% for the next 24 months and 13% after that. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 50%.
Otherwise, investors will be fully exposed to the decline.
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: | $2,818,000
|
| Maturity: | Feb. 20, 2023
|
| Coupon: | Annualized rate for each day that index closes at or above 72.5% coupon barrier level; rate is 7% for first 72 months, 10% for next 24 months and 13% after that; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 50%; otherwise, investors share fully in losses
|
| Call option: | At par on any interest payment date beginning Feb. 15, 2014
|
| Initial index level: | 917.52
|
| Barrier level: | 665.202, 72.5% of initial level
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.63%
|
| Cusip: | 38141GMY7
|
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