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GS Finance plans callable buffered range accrual notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., March 14 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due March 20, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The interest rate will be 5.25% per year multiplied by the proportion of days on which the index closes at or above the barrier level, 75% of the initial index level. Interest will be payable monthly.
If the index return is at least negative 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 25%.
Beginning March 20, 2018, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the agent.
The notes will price March 15.
The Cusip number is 40054L2A1.
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