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Goldman plans callable quarterly range accrual linked to Russell 2000
By Susanna Moon
Chicago, March 7 – GS Finance Corp. plans to price callable quarterly range accrual notes due March 31, 2031 linked to the Russell 2000 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 for each day that the index closes at or above the coupon barrier level, 70% of the initial index level, and six-month Libor is less than 6%. The rate will be 6% for the first 32 quarterly interest payment dates and 8% for the final 28 quarterly interest payment dates. Interest will be payable quarterly.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par.
Goldman, Sachs & Co. is the agent.
The notes will price on March 29 and settle on March 31.
The Cusip number is 40054K5D4.
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