By Marisa Wong
Madison, Wis., Oct. 2 - Goldman Sachs Group, Inc. priced $1.34 million of callable monthly Russell 2000 index-linked range accrual notes due Oct. 3, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8.75% per year multiplied by the proportion of days on which the index closes at or above the trigger level, which is 75% of the initial index level. 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 lose 1% for every 1% that the final index level is less than the initial index level.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1.34 million
|
| Maturity: | Oct. 3, 2028
|
| Coupon: | 8.75% per year multiplied by proportion of days on which index closes at or above trigger level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is greater than or equal to 50% of initial level; otherwise, full exposure to index's decline
|
| Call option: | Beginning Oct. 3, 2014, at par on any interest payment date
|
| Initial index level: | 1,073.79
|
| Trigger level: | 805.3425, 75% of initial level
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 3
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.55%
|
| Cusip: | 38147QWN2
|
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