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Goldman plans callable buffered range accrual notes linked to Russell
By Susanna Moon
Chicago, May 29 - Goldman Sachs Group, Inc. plans to price 10-year callable buffered monthly range accrual notes linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at a rate for each day that the index closes at or above the 80% barrier level. The rate will be 7.8% for the first 48 months, 8.8% for the next 36 months and 9.8% for the last 36 months. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 20%.
Otherwise, investors will lose 1.25% for each 1% decline beyond 20%.
The notes will be callable at par on any interest payment date beginning June 2015.
The exact terms will be set at pricing.
Goldman, Sachs & Co. is the agent.
The Cusip number is 38141GUK8.
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