Goldman plans callable monthly range accrual notes linked to S&P 500

By Marisa Wong

Madison, Wis., July 3 - Goldman Sachs Group, Inc. plans to price callable monthly S&P 500 index-linked range accrual notes due July 29, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 8.25% per year times 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 unless the index finishes below 50% of the initial level, in which case the payout will be par plus the index return.

The notes will be callable at par on any interest payment date beginning on July 29, 2014.

The notes (Cusip: 38147QFW1) are expected to price on July 24 and settle on July 29.

Goldman Sachs & Co. is the underwriter.

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