By Marisa Wong
Madison, Wis., Dec. 28 - Goldman Sachs Group, Inc. priced $17.57 million of callable monthly Russell 2000 index-linked range accrual notes due Dec. 31, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be an applicable rate multiplied by the proportion of days on which the index closes at or above the index trigger level, which is 70% of the initial level. Interest is payable monthly. The applicable rate is 8% for the first 48 months and will step up to 10% for the next 36 months and to 12% for the final 36 months.
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 will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $17.57 million
|
| Maturity: | Dec. 31, 2022
|
| Coupon: | Applicable interest rate multiplied by proportion of days on which the index is at or above trigger level; applicable rate is 8% for first 48 months, 10% for next 36 months and 12% for final 36 months; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 50% of initial level; otherwise, full exposure to losses
|
| Call option: | At par on any interest payment date beginning on Dec. 31, 2013
|
| Initial index level: | 838.89
|
| Trigger level: | 587.223, 70% of initial level
|
| Pricing date: | Dec. 26
|
| Settlement date: | Dec. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.02%
|
| Cusip: | 38141GKD5
|
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