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Goldman plans callable monthly range accrual notes tied to S&P 500
By Susanna Moon
Chicago, Aug. 7 – GS Finance Corp. plans to price callable monthly range accrual notes Aug. 31, 2032 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 7% for each day that the index closes at or above the coupon barrier, 75% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 50%, in which case investors will lose 1% for each 1% decline.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
The notes will price on Aug. 29.
The Cusip number is 40054LNG5.
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