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Goldman Sachs plans callable monthly range accrual notes on S&P 500
By Marisa Wong
Madison, Wis., Dec. 12 – Goldman Sachs Group, Inc. plans to price callable monthly S&P 500 index-linked range accrual notes due Dec. 29, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.75% for each day that the index closes at or above the 75% coupon barrier level. Interest is payable monthly.
The notes will be callable at par on any interest payment date beginning on March 29, 2015.
If the index finishes at or above the 60% trigger level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
The notes will price on Dec. 23 and settle on Dec. 29.
The Cusip number is 38147QQG4.
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