By Angela McDaniels
Tacoma, Wash., May 27 - Goldman Sachs Group, Inc. priced $2.12 million of callable monthly Russell 2000 index-linked range accrual notes due May 29, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is equal to the interest factor multiplied by the proportion of days on which the index closes at or above the barrier level, 75% of the initial index level. The interest factor is 7% per year for the first 96 monthly interest payment dates, 10% per year for the next 36 monthly interest payment dates and 13% per year for the final 48 monthly interest payment dates.
The payout at maturity will be par if the final index level is at least 50% of the initial level. Otherwise, investors will be fully exposed to the index decline from the initial level.
Beginning May 29, 2015, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2,123,000
|
| Maturity: | May 29, 2029
|
| Coupon: | Interest factor multiplied by proportion of days on which index closes at or above barrier level; payable monthly
|
| Interest factor: | 7% per year for first 96 months, 10% per year for next 36 months and 13% per year for final 48 months
|
| Price: | Par
|
| Payout at maturity: | Par if final level is greater than or equal to barrier level; otherwise, full exposure to index decline from initial level
|
| Call option: | At par on any interest payment date beginning on May 29, 2015
|
| Initial index level: | 1,113.87
|
| Barrier level: | 835.4025, 75% of initial level
|
| Pricing date: | May 22
|
| Settlement date: | May 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.5%
|
| Cusip: | 38147Q6Q4
|
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