New Issue: Goldman prices $1.61 million range accrual notes linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., May 28 – Goldman Sachs Group, Inc. priced $1.61 million of callable monthly Russell 2000 index-linked range accrual notes due May 28, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 8.15% per year multiplied by the proportion of days on which the index closes at or above the barrier level, 70% of the initial index level. Interest is payable monthly.

If the final index level is greater than or equal to the trigger buffer level, 50% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index’s decline.

Beginning May 28, 2016, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable monthly range accrual notes
Underlying index:	Russell 2000
Amount:	$1,612,000
Maturity:	May 28, 2030
Coupon:	8.15% per year multiplied by proportion of days on which index closes at or above barrier level; payable monthly
Price:	Par
Payout at maturity:	If index return is negative 50% or greater, par; otherwise, full exposure to index’s decline
Call option:	At par on any interest payment date beginning May 28, 2016
Initial index level:	1,252.224
Barrier level:	876.5568, 70% of initial level
Pricing date:	May 22
Settlement date:	May 28
Underwriter:	Goldman Sachs & Co.
Fees:	4.46%
Cusip:	38148T3G2

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