By Toni Weeks
San Luis Obispo, Calif., Sept. 27 - Goldman Sachs Group, Inc. priced $4 million of callable buffered monthly S&P 500 index-linked range accrual notes due June 28, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be the 5.75% multiplied by the proportion of days on which the index closes at or above 80% of the initial index level. Interest is payable monthly.
The payout at maturity will be par if the final index level is at least 80% of the initial level. Otherwise, investors will lose 1% for every 1% index decline beyond the 20% buffer level.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $4 million
|
| Maturity: | June 28, 2019
|
| Coupon: | 5.75% rate multiplied by proportion of days on which index closes at or above trigger level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 80% of initial level; exposure to any losses beyond 20% buffer
|
| Call option: | At par on any interest payment date beginning Sept. 30, 2014
|
| Initial level: | 1,692.77
|
| Trigger level: | 1,354.216, 80% of initial level
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.35%
|
| Cusip: | 38147QRW8
|
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