By Jennifer Chiou
New York, Aug. 21 – Goldman Sachs Group, Inc. priced $1,461,000 of callable monthly Russell 2000 index-linked range accrual notes due Aug. 21, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.8% for each day that the index closes at or above the barrier level, 75% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 50%. Investors will be fully exposed to losses if the index finishes below the 50% trigger level.
The notes will be callable at par on any interest payment date beginning on Nov. 21, 2014.
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: | $1,461,000
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Maturity: | Aug. 21, 2029
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Coupon: | 7.8% for each day that the index closes at or above the barrier level; payable monthly
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Price: | Par
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Payout at maturity: | Par if the index falls by up to 50%; otherwise, full exposure to losses
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Call: | At par on any monthly interest payment date beginning Nov. 21, 2014
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Initial index level: | 1,158.405
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Barrier level: | 75% of initial level
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Pricing date: | Aug. 18
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Settlement date: | Aug. 21
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.95%
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Cusip: | 38147QE85
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