By Toni Weeks
San Luis Obispo, Calif., July 30 - Goldman Sachs Group, Inc. priced $1.8 million of callable buffered monthly Russell 2000 index-linked range accrual notes due Aug. 2, 2023, 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 at or above 70% of the initial index level. The applicable rate is 7% for the first 48 interest payment dates, 8% for the next 36 interest payment dates and 10% for the final 36 interest payment dates. Interest is payable monthly.
The payout at maturity will be par if the final index level is at least 70% of the initial level. Investors will lose 1.4286% for every 1% index decline beyond the 30% buffer.
The notes will be callable at par on any interest payment date beginning Aug. 2, 2015.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1,795,000
|
| Maturity: | Aug. 2, 2023
|
| Coupon: | Applicable rate multiplied by proportion of days on which index closes at or above trigger level; applicable rate is 7% for the first 48 interest payment dates, 8% for the next 36 interest payment dates and 10% for the final 36 interest payment dates; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 70% of initial level; 1.4286% loss for every 1% index decline beyond the 30% buffer
|
| Call option: | At par on any interest payment date beginning Aug. 2, 2015
|
| Initial level: | 1,048.51
|
| Trigger level: | 733.957, 70% of initial level
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 2
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.68%
|
| Cusip: | 38147QGE0
|
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