By Jennifer Chiou
New York, Dec. 3 - Goldman Sachs Group, Inc. priced $872,000 of callable monthly buffered Russell 2000 index-linked range accrual notes due Nov. 30, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8.25% multiplied by the proportion of days on which the index closes at or above the index trigger level, which is 75% of the initial level. Interest is payable monthly.
If the final index level is greater than or equal to 75% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to losses beyond 25%.
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.
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Issue: | Callable monthly buffered range accrual notes
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Underlying index: | Russell 2000
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Amount: | $872,000
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Maturity: | Nov. 30, 2019
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Coupon: | 8.25% per year multiplied by proportion of days on which the index is at or above trigger level; payable monthly
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Price: | Par
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Payout at maturity: | Par if final index level is at least 75% of initial level; otherwise, exposure to losses beyond 25%
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Call option: | At par on any interest payment date beginning on Nov. 30, 2013
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Initial index level: | 813.50
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Trigger level: | 610.125, 75% of initial level
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.45%
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Cusip: | 38141GHZ0
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