By Marisa Wong
Madison, Wis., Feb. 13 – Goldman Sachs Group, Inc. priced $2.75 million of callable quarterly range accrual notes due Feb. 17, 2030 linked to the S&P 500 index and six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate for each day that six-month Libor is greater than 0% and less than or equal to 6% and the S&P 500 index closes at or above 75% of its initial value. The coupon will be 5% for the first 20 quarterly interest payment dates, 6.5% for the next 20 interest payment dates and 8% for the final 20 interest payment dates. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any quarterly call date after one year.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable quarterly range accrual notes
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Amount: | $2.75 million
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Maturity: | Feb. 17, 2030
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Coupon: | Annual rate for each day that six-month Libor is greater than 0% and less than or equal to 6% and index closes at or above 75% of its initial value; coupon will be 5% for first 20 quarterly interest payment dates, 6.5% for next 20 interest payment dates and 8% for final 20 interest payment dates; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date from Feb. 17, 2016 onward
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Initial level: | 2,068.53
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Reference level: | 1,551.3975, 75% of initial level
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Pricing date: | Feb. 11
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Settlement date: | Feb. 17
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.05%
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Cusip: | 38147QU79
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