By Toni Weeks
San Luis Obispo, Calif., Jan. 31 - Goldman Sachs Group, Inc. priced $3.96 million of callable monthly Russell 2000 index-linked range accrual notes due Jan. 31, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to the applicable rate multiplied by the proportion of days on which the index closes at or above 75% of the initial index level. The applicable rate is 8% for the first 96 monthly interest payment dates, 10% for the next 48 monthly interest payment dates and 12% for the final 36 monthly interest payment dates. Interest is payable monthly.
The payout at maturity will be par if the final index level as at least 50% of the initial level. Otherwise, investors will be fully exposed to the index decline from the initial level.
The notes will be callable at par on any interest payment date beginning on Jan. 31, 2015.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
|
Issue: | Callable monthly range accrual notes
|
Underlying index: | Russell 2000
|
Amount: | $3,957,000
|
Maturity: | Jan. 31, 2029
|
Coupon: | Applicable rate multiplied by proportion of days on which index closes at or above 75% of the initial index level; applicable rate is 8% for first 96, 10% for next 48 and 12% for final 36 monthly interest payment dates; payable monthly
|
Price: | Par
|
Payout at maturity: | Par if final level is at least 50% of initial level; otherwise, full exposure to index decline from initial level
|
Call option: | At par on any interest payment date beginning on Jan. 31, 2015
|
Initial level: | 1,122.45
|
Barrier level: | 841.8375, 75% of initial level
|
Pricing date: | Jan. 29
|
Settlement date: | Jan. 31
|
Underwriter: | Goldman Sachs & Co.
|
Fees: | 4.65%
|
Cusip: | 38147QAX4
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.