By Toni Weeks
San Luis Obispo, Calif., Aug. 29 – Goldman Sachs Group, Inc. priced $2.38 million of callable monthly Russell 2000 index-linked range accrual notes due Aug. 29, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7% for each day that the index closes at or above the 60% coupon barrier level. Interest is payable monthly.
The payout at maturity will be par unless the index finishes below the 60% trigger level, in which case investors will receive par plus the index return, will full exposure to the index decline.
The notes will be callable at par on any interest payment date beginning Nov. 29, 2014.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2.38 million
|
| Maturity: | Aug. 29, 2029
|
| Coupon: | 7% for each day that index closes at or above 60% coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below 60% trigger level, in which case par plus index return, with exposure to losses
|
| Call option: | At par on any interest payment date beginning Nov. 29, 2014
|
| Initial level: | 1,172.714
|
| Coupon barrier level: | 703.6284, 60% of initial level
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.7%
|
| Cusip: | 38147QEG7
|
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