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Goldman plans callable monthly range accrual notes linked to Russell
By Marisa Wong
Madison, Wis., Jan. 10 - Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due Jan. 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue for each day the index closes at or above the 75% trigger level. The rate will be 8% for the first 72 months, stepping up to 10% for the next 24 months and to 12% after that. Interest is payable monthly.
The notes will be callable at par on any interest payment date beginning Jan. 31, 2014.
If the index finishes at or above 50% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to losses.
Goldman Sachs & Co. is the underwriter.
The notes will price on Jan. 28 and settle on Jan. 31.
The Cusip number is 38141GME1.
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