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Goldman Sachs plans 10-year callable range accrual notes on Russell
By Toni Weeks
San Diego, Oct. 5 - Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature in 10 years.
The interest rate will be 10% multiplied by the proportion of days on which the index closes at or above the index trigger level. The index trigger level is expected to be 80% of the initial level and will be set at pricing. Interest is payable monthly.
If the final index level is greater than or equal to 50% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to losses.
After one year, the notes (Cusip: 38143U7T2) will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
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