Goldman Sachs changes dates for range accrual notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 8 - Goldman Sachs Group, Inc. pushed back the pricing of its callable monthly S&P 500 index-linked range accrual notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are now expected to price April 17, settle April 22 and mature April 22, 2028. Previously, they were expected to price April 12, settle April 17 and mature April 17, 2028.

The interest rate will be 8% per year multiplied by the proportion of days on which the index's closing level is at least 75% of the initial level. Interest will be payable monthly.

If the index return is greater than or equal to negative 50%, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index's decline from its initial level.

Beginning April 22, 2014, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38141GRQ9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.