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GS Finance eyes callable buffered monthly range accrual notes on Russell
By Tali Rackner
Minneapolis, July 6 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due Jan 18, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at 6.15% annualized for each day that the index closes at or above the barrier level, 75% of the initial index level. Interest will be payable monthly.
The notes will be callable, in whole but not in part, at par on any interest payment date beginning on July 18, 2018.
The payout at maturity will be par unless the index falls by more than the 25% buffer, in which case investors will lose 1% for each 1% decline beyond 25%.
Goldman Sachs & Co. is the agent.
The notes will price July 13 and settle on July 18.
The Cusip number is 40054LK78.
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