Goldman plans 15-year callable monthly range accrual notes on S&P 500

By Jennifer Chiou

New York, June 7 - Goldman Sachs Group, Inc. plans to price callable monthly S&P 500 index-linked range accrual notes due June 28, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 8% multiplied by the proportion of days on which the index closes at or above 75% of the initial index level. Interest is payable monthly.

The payout at maturity will be par if the final index level is at least 50% of the initial level. Otherwise, investors will share in losses.

The notes will be callable at par on any interest payment date beginning on June 28, 2014.

The notes (Cusip: 38147QBW5) are expected to price on June 25 and settle on June 28.

Goldman Sachs & Co. is the underwriter.

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