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Goldman to price callable buffered monthly range accrual notes on S&P
By Marisa Wong
Morgantown, W.Va., Sept. 26 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due Sept. 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 annual rate of 4.75% for each day that the index closes at or above the coupon barrier level, 75% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 25%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
The notes will price on Sept. 27.
The Cusip number is 40054KKA3.
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