By Angela McDaniels
Tacoma, Wash., June 26 – Goldman Sachs Group, Inc. priced $6.91 million of callable monthly Russell 2000 index-linked range accrual notes due June 27, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at the applicable rate multiplied by the proportion of days on which the index closes at or above the barrier level, 75% of the initial index level. The applicable rate is 7% per year for the first 60 months, 8% per year for the next 60 months and 9% per year for the final 60 months. 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 the index’s decline from its initial level.
Beginning Sept. 27, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $6,911,000
|
| Maturity: | June 27, 2029
|
| Coupon: | Applicable rate multiplied by proportion of days on which index closes at or above barrier level; applicable rate is 7% per year for first 60 months, 8% per year for next 60 months and 9% per year for final 60 months; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final level is greater than or equal to 50% of initial level; otherwise, full exposure to index decline from initial level
|
| Call option: | At par on any interest payment date beginning Sept. 27
|
| Initial index level: | 1,173.243
|
| Barrier level: | 879.93225, 75% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | June 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.6%
|
| Cusip: | 38147QAL0
|
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