By Toni Weeks
San Luis Obispo, Calif., May 30 - Goldman Sachs Group, Inc. priced $3.5 million of callable buffered monthly Russell 2000 index-linked range accrual notes due May 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6.5% for each day that the index closes at or above the 80% coupon barrier level. Interest is payable monthly.
If the index return is greater than or equal to negative 20%, the payout at maturity will be par. Investors will lose 1% for every 1% decline in the index beyond the 20% buffer.
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 buffered monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $3.5 million
|
| Maturity: | May 30, 2021
|
| Coupon: | 6.5% annualized per day that index closes at or above coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the index return is greater than or equal to negative 20%, par; 1% loss for every 1% decline in index beyond 20% buffer
|
| Call option: | At par on any interest payment date beginning May 30, 2015
|
| Initial level: | 1,142.201
|
| Coupon barrier level: | 913.7608, 80% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | May 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.2%
|
| Cusip: | 38147Q5G7
|
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