New Issue: Goldman prices $3.86 million range accrual notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 25 - Goldman Sachs Group, Inc. priced $3.86 million of callable monthly range accrual notes due April 26, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 7% per year multiplied by the proportion of days on which the index closes at or above the trigger level, which is 63.5% of the initial index level. Interest is payable monthly.

If the final index level is at least 50% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is below the initial level.

Beginning April 26, 2014, the notes are callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable monthly range accrual notes
Underlying index:	S&P 500
Amount:	$3,855,000
Maturity:	April 26, 2028
Coupon:	7% per year multiplied by proportion of days on which index closes at or above trigger level; payable monthly
Price:	Par
Payout at maturity:	If final index level is greater than or equal to 50% of initial level, par; otherwise, full exposure to decline form initial level
Call option:	At par on any interest payment date from April 26, 2014 onward
Initial index level:	1,578.78
Trigger level:	1,002.5253, 63.5% of initial level
Pricing date:	April 23
Settlement date:	April 26
Agent:	Goldman Sachs & Co.
Fees:	3.95%
Cusip:	38141GSD7

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