By Toni Weeks
San Luis Obispo, Calif., May 28 - Goldman Sachs Group, Inc. priced $2.02 million of autocallable monthly index-linked range accrual notes due May 29, 2023 tied to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 9% for each day that each index closes at or above 75% of its respective initial index level. Interest is payable monthly.
The notes will be automatically called at par if each index closes at or above 105% of its initial level on any monthly observation date after one year.
The payout at maturity will be par if both indexes finish at or above 50% of their initial levels.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable monthly range accrual notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $2,023,000
|
| Maturity: | May 29, 2023
|
| Coupon: | 9% multiplied by proportion of days on which each index closes at or above trigger level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above 50% of initial level; otherwise, full exposure to decline of least-performing index
|
| Call: | At par on any interest payment date beginning May 29, 2014 if each index closes at or above 105% of its initial level
|
| Initial index levels: | 2,776.78 for Euro Stoxx and 984.28 for Russell
|
| Trigger levels: | 2,082.585 for Euro Stoxx and 738.21 for Russell, 75% of initial levels
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.1%
|
| Cusip: | 38141GSS4
|
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