By Toni Weeks
San Luis Obispo, Calif., April 29 - Goldman Sachs Group, Inc. priced $2.5 million of callable buffered monthly S&P 500 index-linked range accrual notes due April 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.5% for each day that the index closes at or above the 80% coupon barrier level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for each 1% index decline beyond the 20% buffer.
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 buffered monthly range accrual notes
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Underlying index: | S&P 500
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Amount: | $2.5 million
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Maturity: | April 30, 2021
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Coupon: | 5.5% annualized per day that index closes at or above coupon barrier level
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for each 1% index decline beyond 20% buffer
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Call option: | At par on any interest payment date beginning April 30, 2015
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Initial level: | 1,863.4
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Coupon barrier level: | 1,490.72, 80% of initial level
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Trigger level: | 80% of initial index level
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.15%
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Cusip: | 38147Q2Y1
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