By Jennifer Chiou
New York, May 31 - Goldman Sachs Group, Inc. priced $2,205,000 of callable monthly buffered Russell 2000 index-linked range accrual notes due June 5, 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 80% coupon barrier level. The rate will be 8% for the first 48 months, 9% for the next 36 months and 10% for the final 36 months. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 20%.
Otherwise, investors will lose 1.25% for each 1% decline beyond 20%.
The notes will be callable at par on any interest payment date after two years.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly buffered range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2,205,000
|
| Maturity: | June 5, 2023
|
| Coupon: | For each day that index closes at or above coupon barrier, 8% for the first 48 months, 9% for the next 36 months and 10% for the final 36 months; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 20%; 1.25% loss per 1% drop beyond 20%
|
| Call option: | At par on any interest payment date beginning on June 5, 2015
|
| Initial index level: | 986.96
|
| Coupon barrier level: | 789.568, 80% of initial level
|
| Pricing date: | May 29
|
| Settlement date: | June 5
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.44%
|
| Cusip: | 38141GUK8
|
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