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Goldman Sachs plans range accrual autocallables on Euro Stoxx, Russell
By Toni Weeks
San Luis Obispo, Calif., April 29 - Goldman Sachs Group, Inc. plans to price autocallable monthly index-linked range accrual notes due May 29, 2023 tied to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 9% for each day that each index closes at or above 75% of its respective initial index level. Interest is payable monthly.
The notes will be automatically called at par if each index closes at or above 105% of its initial level on any monthly observation date after one year.
The payout at maturity will be par if both indexes finish at or above 50% of their initial levels.
Otherwise, investors will share fully in losses.
Goldman Sachs & Co. is the underwriter.
The notes are expected to price May 23 and settle May 29.
The Cusip number is 38141GSS4.
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