By Toni Weeks
San Luis Obispo, Calif., May 28 - Goldman Sachs Group, Inc. priced $11.62 million of callable monthly Russell 2000 index-linked range accrual notes due May 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8.25% multiplied by the proportion of days on which the index closes at or above the index trigger level, 75% of the initial 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 be exposed to losses from the initial index level.
After one year, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $11,662,000
|
| Maturity: | May 29, 2023
|
| Coupon: | 8.25% multiplied by proportion of days on which index closes at or above 75% of the initial level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 50% of initial level; otherwise, full exposure to losses
|
| Call option: | At par on any interest payment date beginning May 29, 2014
|
| Initial index level: | 984.28
|
| Trigger level: | 738.21, 75% of initial level
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.05%
|
| Cusip: | 38141GTJ3
|
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