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Goldman plans callable monthly range accrual notes on Russell 2000
By Susanna Moon
Chicago, March 3 – Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due March 31, 2025, 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 70% coupon barrier level. Interest is payable monthly.
The notes will be callable at par on any interest payment date beginning on March 31, 2016.
The payout at maturity will be par unless the index finishes below the 50% trigger, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
The notes will price on March 27 and settle on March 31.
The Cusip number is 38147QVC7.
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