Goldman plans buffered monthly range accrual notes on Russell 2000

By Susanna Moon

Chicago, May 7 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due May 31, 2024 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 5.35% annualized for each day that the index closes at or above the coupon barrier level, 80% of the initial index level. Interest will be payable monthly.

The notes are callable at par on any interest payment date beginning on May 31, 2019.

The payout at maturity will be par unless the index falls by more than the 20% buffer, in which case investors will lose 1% for each 1% decline beyond 20%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. is the underwriter.

The notes will price on May 29.

The Cusip is 40055Q2C5.

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