Goldman plans 15-year callable monthly range accrual notes on Russell

By Susanna Moon

Chicago, Dec. 5 - Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due Dec. 20, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at a rate for each day that the index closes at or above 75% of the initial index level and six-month Libor is 6% or less. The rate will be 8% for the first 60 months, stepping up to 10% for the next 60 months and to 12% for the final 60 months. Interest is payable monthly.

The payout at maturity will be par if the index falls by up to 50%.

Otherwise, investors will be fully exposed to any losses if the index finishes below the 50% trigger level.

The notes will be callable at par on any interest payment date beginning on Dec. 20, 2014.

Goldman Sachs & Co. is the underwriter.

The notes will price on Dec. 17 and settle on Dec. 20.

The Cusip number is 38147Q5A0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.