New Issue: Goldman sells $2.94 million 10-year callable monthly range accrual notes on Russell

By Marisa Wong

Madison, Wis., Jan. 28 - Goldman Sachs Group, Inc. priced $2.94 million of callable monthly Russell 2000 index-linked range accrual notes due Jan. 29, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is equal to 8% multiplied by the proportion of days on which the index closes at or above 77.5% of the initial index level. Interest is payable monthly.

If the final index level is at least 50% of the initial level, the payout at maturity will be par. Otherwise, investors will share in losses.

The notes will be callable at par on any interest payment date beginning on Jan. 29, 2015.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable monthly range accrual notes
Underlying index:	Russell 2000
Amount:	$2,941,000
Maturity:	Jan. 29, 2024
Coupon:	8% multiplied by proportion of days on which index closes at or above 77.5% of the initial index level; payable monthly
Price:	Par
Payout at maturity:	Par unless the final index level falls below 50% of the initial level, in which case investors will be fully exposed to losses from the initial level
Call option:	At par on any interest payment date beginning on Jan. 29, 2015
Initial level:	1,144.13
Barrier level:	886.70075, 77.5% of initial level
Pricing date:	Jan. 24
Settlement date:	Jan. 29
Underwriter:	Goldman Sachs & Co.
Fees:	4.45%
Cusip:	38147QDB9

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