By Susanna Moon
Chicago, April 25 - Goldman Sachs Group, Inc. priced $7.67 million of callable monthly Russell 2000 index-linked range accrual notes due April 25, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.15% for each day that the index closes at or above the 75% coupon barrier level. Interest is payable monthly.
The payout at maturity will be par if the index falls by up to 50%.
Otherwise, investors will be fully exposed to any losses.
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.
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Issue: | Callable monthly range accrual notes
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Underlying index: | Russell 2000
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Amount: | $7,665,000
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Maturity: | April 25, 2024
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Coupon: | 7.15% annualized per day that index closes at or above coupon barrier level, payable monthly
|
Price: | Par
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Payout at maturity: | Par if index falls by up to 50%; otherwise, full exposure to losses
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Call option: | At par on any interest payment date beginning April 25, 2015
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Initial level: | 1,155.607
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Barrier level: | 866.70525, 75% of initial level
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Trigger level: | 50% of initial level
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Pricing date: | April 22
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Settlement date: | April 25
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.95%
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Cusip: | 38147Q2R6
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