New Issue: Goldman prices $546,000 callable range accrual notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Nov. 9 – Goldman Sachs Group, Inc. priced $546,000 of callable monthly S&P 500 index-linked range accrual notes due Oct. 30, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 8% 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 index return is greater than or equal to negative 50%, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index’s decline.

Beginning Oct. 30, 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 index-linked range accrual notes
Underlying index:	S&P 500 index
Amount:	$546,000
Maturity:	Oct. 30, 2030
Coupon:	8% 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 Oct. 30, 2016
Initial index level:	2,090.35
Barrier level:	1,463.245, 70% of initial level
Pricing date:	Oct. 28
Settlement date:	Oct. 30
Underwriter:	Goldman Sachs & Co.
Fees:	4.55%
Cusip:	38148TG86

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