By Marisa Wong
Madison, Wis., Feb. 26 - Goldman Sachs Group, Inc. priced $3.15 million of callable monthly Russell 2000 index-linked range accrual notes due Feb. 26, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to 8.55% 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 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 Feb. 26, 2015.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $3.15 million
|
| Maturity: | Feb. 26, 2029
|
| Coupon: | 8.55% multiplied by proportion of days on which index closes at or above barrier level
|
| 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 Feb. 26, 2015
|
| Initial level: | 1,164.63
|
| Barrier level: | 873.4725, 75% of initial level
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.56%
|
| Cusip: | 38147QLP9
|
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