By Angela McDaniels
Tacoma, Wash., Sept. 30 – Goldman Sachs Group, Inc. priced $2.5 million of callable buffered monthly Russell 2000 index-linked range accrual notes due March 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 6.5% per year multiplied by the proportion of days on which the index’s closing level is greater than or equal to 80% of the initial index level. Interest is payable monthly.
If the index return is greater than or equal to negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the index declines beyond 20%.
Beginning Sept. 30, 2015, 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 buffered monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2.5 million
|
| Maturity: | March 30, 2022
|
| Coupon: | 6.5% per year multiplied by proportion of days on which index’s closing level is greater than or equal to barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than or equal to negative 20%, par; otherwise, 1% loss for each 1% that index declines beyond 20%
|
| Call option: | At par on any interest payment date from Sept. 30, 20150 onward
|
| Initial index level: | 1,119.331
|
| Barrier level: | 895.4648, 80% of initial level
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.4%
|
| Cusip: | 38147QG59
|
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