By Marisa Wong
Madison, Wis., Feb. 14 - Goldman Sachs Group, Inc. priced $3.63 million of callable monthly buffered Russell 2000 index-linked range accrual notes due Feb. 20, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate for each day that the index closes at or above the 75% coupon barrier level. The rate will be 8% for the first 48 months, 10% for the next 36 months and 12% after that. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 50%.
Otherwise, investors will lose 2% for each 1% decline in the index beyond the 50% trigger 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 buffered range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $3.63 million
|
| Maturity: | Feb. 20, 2023
|
| Coupon: | Annualized rate for each day index closes at or above 75% coupon barrier level; rate is 8% for first 48 months, 10% for next 36 months and 12% after that; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 50%; otherwise, 2% loss for each 1% decline beyond 50% trigger level
|
| Call option: | At par on any interest payment date beginning on Feb. 20, 2014
|
| Initial index level: | 917.52
|
| Barrier level: | 688.14, 75% of initial level
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 20
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.29%
|
| Cusip: | 38141GNQ3
|
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