By Angela McDaniels
Tacoma, Wash., July 31 – Goldman Sachs Group, Inc. priced $1.51 million of callable monthly Russell 2000 index-linked range accrual notes due July 31, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is the applicable rate multiplied by the proportion of days on which the index’s closing level is greater than or equal to 75% of the initial index level. The applicable rate is 7% per year for the first 60 interest payment dates, 8% per year for the next 60 interest payment dates and 9% per year for the final 60 interest payment dates. Interest is payable monthly.
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’s decline from its initial level.
Beginning Oct. 31, 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: | $1,512,000
|
| Maturity: | July 31, 2029
|
| Coupon: | Applicable rate multiplied by proportion of days on which index’s closing level is greater than or equal to barrier level; payable monthly
|
| Applicable rate: | 7% per year for the first 60 interest payment dates, 8% per year for the next 60 interest payment dates and 9% per year for the final 60 interest payment dates
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is greater than or equal to 50% of initial level; otherwise, full exposure to index decline from initial level
|
| Call option: | At par on any interest payment date from Oct. 31 onward
|
| Initial index level: | 1,141.643
|
| Barrier level: | 856.23225, 75% of initial level
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.55%
|
| Cusip: | 38147QBY1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
