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Goldman plans callable monthly range accrual notes linked to Russell
By Susanna Moon
Chicago, Jan. 3 - Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due Jan. 17, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at a rate for each day that Libor is 6% or less and the index closes at or above the 75% coupon barrier level. The rate will be 8% for the first 48 months, stepping up to 10% for the next 36 months and to 12% after that. Interest is payable monthly.
The notes will be callable at par on any interest payment date beginning Jan. 17, 2014.
If the index finishes at or above the 50% trigger level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
The notes will price on Jan. 14 and settle on Jan. 17.
The Cusip number is 38141GLV4.
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