Goldman Sachs plans monthly range accrual notes linked to S&P, Libor

By Angela McDaniels

Tacoma, Wash., March 1 - Goldman Sachs Group, Inc. plans to price callable monthly range accrual notes due March 20, 2028 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at an annualized rate multiplied by the proportion of days on which the index closes at or above the trigger level, which is expected to be 75% of the initial index level, and six-month Libor is 6% or less. The annualized rate will be 6% for the first 96 months, 7% for the next 60 months and 8% for the final 24 months. Interest will be payable monthly.

The payout at maturity will be par.

Beginning March 20, 2014, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The notes are expected to price March 15 and settle March 20.

The Cusip number is 38141GPX6.

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