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Goldman Sachs plans monthly range accrual notes tied to S&P 500 index
By Tali Rackner
Norfolk, Va., Jan. 7 – GS Finance Corp. plans to price callable monthly S&P 500-linked range accrual notes due July 27, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6.8% annualized for each day that the index closes at or above the barrier level, 80% of the initial index level. Interest will be payable monthly.
If the final index level is greater than or equal to 80% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index decline.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
The notes will price on Jan. 27 and settle on Jan. 29.
The notes are guaranteed by Goldman Sachs Group, Inc.
The Cusip number is 40054CAZ7.
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