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Goldman plans callable monthly range accrual notes on Russell, S&P
By Susanna Moon
Chicago, Aug. 15 – GS Finance Corp. plans to price callable monthly range accrual notes Aug. 31, 2032 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 8% for each day that the indexes close at or above the 75% coupon barrier, payable monthly.
The payout at maturity will be par unless either index falls by more than 50%, in which case investors will lose 1% for each 1% decline of the worse performing index.
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. is the underwriter.
The notes will price on Aug. 29 and settle on Aug. 31.
The Cusip number is 40054LNJ9.
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