GS Finance to price callable monthly range accrual notes on S&P 500

By Devika Patel

Knoxville, Tenn., Sept. 19 – GS Finance Corp. plans to price callable monthly range accrual notes due Sept. 29, 2032 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 7% annualized 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 notes will be callable in whole but not in part at par on any interest payment date beginning on Sept. 29, 2018.

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 of the index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40054LRW6) will price on Sept. 27 and settle on Sept. 29.

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