GS Finance plans callable buffered range accrual notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, June 6 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due Dec. 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

Interest will accrue at an annualized rate of 6.15% for each day that the index closes at or above the coupon barrier level, 80% of the initial index level. Interest will be payable monthly.

If the index return is at least negative 20%, the payout at maturity will be par.

If the index return is less than negative 20%, investors will lose 1% for every 1% decline beyond 20%.

The notes will be callable at par on any interest payment date beginning June 30, 2017.

Goldman Sachs & Co. is the agent.

The notes will price on June 28 and settle on June 30.

The Cusip number is 40054KDR4.

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