Published on 8/17/2012 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $2.18 million range accrual notes linked to S&P 500, six-month Libor
By Angela McDaniels
Tacoma, Wash., Aug. 17 - Goldman Sachs Group, Inc. priced $2.18 million of callable monthly range accrual notes due Aug. 20, 2024 linked to the S&P 500 index and six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be the applicable rate multiplied by the proportion of days on which the index closes above the trigger level, which is 77.5% of the initial index level, and six-month Libor is 6% or less. The applicable rate is 5.9% per year for the first three years, 6.4% per year for years four through six, 6.9% per year for years seven through nine and 7.4% per year for years 10 through 12. Interest is payable monthly.
The payout at maturity will be par.
After one year, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlyings: | Six-month Libor and S&P 500 index
|
| Amount: | $2,178,000
|
| Maturity: | Aug. 20, 2024
|
| Coupon: | Applicable rate multiplied by proportion of days on which index closes above trigger level and six-month Libor is 6% or less; applicable rate is 5.9% per year for first three years, 6.4% for years four through six, 6.9% for years seven through nine and 7.4% for years 10 through 12; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Aug. 20, 2013 onward
|
| Initial index level: | 1,405.53
|
| Trigger level: | 1,089.28575, 77.5% of initial index level
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 20
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.475%
|
| Cusip: | 38143U5X5
|
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