Goldman Sachs to price callable buffered monthly range accrual notes linked to S&P 500 index

By Toni Weeks

San Luis Obispo, Calif., Dec. 4 – Goldman Sachs Group, Inc. plans to price callable buffered monthly S&P 500 index-linked range accrual notes due June 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 5.65% 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.

The notes (Cusip: 38147QPR1) are expected to price Dec. 29 and settle Dec. 31.

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