By Toni Weeks
San Luis Obispo, Calif., Sept. 26 - Goldman Sachs Group, Inc. priced $2.81 million of 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 8.1% multiplied by the proportion of days on which the index closes at or above 75% of the initial index level. Interest is payable monthly.
The payout at maturity will be par if the final index level is at least 50% of the initial level. Otherwise, investors will be fully exposed to losses from the initial index 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 range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2.81 million
|
| Maturity: | Sept. 27, 2023
|
| Coupon: | 8.1% multiplied by proportion of days on which index closes at or above trigger 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 from initial index level
|
| Call option: | At par on any interest payment date beginning Sept. 27, 2014
|
| Initial level: | 1,074.68
|
| Trigger level: | 806.01, 75% of initial level
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.45%
|
| Cusip: | 38147QTA4
|
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