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Goldman plans 10-year callable monthly range accrual notes on Russell
By Toni Weeks
San Luis Obispo, Calif., March 19 - Goldman Sachs Group, Inc. plans to price callable buffered monthly Russell 2000 index-linked range accrual notes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature in 10 years.
The applicable interest rate will be multiplied by the proportion of days on which the index closes at or above 80% of the initial index level. The coupon will be 7.5% to 8.5% per year for the first four years, stepping up to 9.5% for years five through seven and to 11% after that. Interest is payable monthly.
The payout at maturity will be par if the final index level is at least 80% of the initial level. Otherwise, investors will lose 1.25% for every 1% decline beyond the 20% buffer.
The notes will be callable at par on any interest payment date beginning March 2015.
The Cusip number is 38141GQX5.
Goldman Sachs & Co. is the underwriter.
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