Goldman Sachs plans callable monthly range accrual notes on Russell

By Marisa Wong

Madison, Wis., Aug. 30 - Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due Sept. 27, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 8% to 8.5% multiplied by the proportion of days on which the index closes at or above 75% of the initial index level. The exact rate will be set at pricing. Interest is payable monthly.

The payout at maturity will be par if the index finishes at or above 50% of its initial level. Otherwise, investors will be fully exposed to the index decline from its initial level.

The notes will be callable at par on any interest payment date beginning Sept. 27, 2014.

Goldman Sachs & Co. is the underwriter.

The notes (Cusip: 38147QTA4) are expected to price Sept. 24 and settle Sept. 27.

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