New Issue: Goldman prices $1.13 million callable monthly range accrual notes tied to Russell 2000

By Jennifer Chiou

New York, Dec. 2 – Goldman Sachs Group, Inc. priced $1,125,000 of callable monthly Russell 2000 index-linked range accrual notes due Nov. 28, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 6.75% for each day that the index closes at or above the 65% coupon barrier level. Interest is payable monthly.

The payout at maturity will be par unless the index finishes below the 50% trigger level, in which case investors will receive par plus the index return, will full exposure to the index decline.

The notes will be callable at par on any interest payment date beginning on Feb. 28.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable monthly range accrual notes
Underlying index:	Russell 2000
Amount:	$1,125,000
Maturity:	Nov. 28, 2024
Coupon:	6.75% for each day that index closes at or above 65% coupon barrier level; payable monthly
Price:	Par
Payout at maturity:	Par unless index finishes below 50% trigger level, in which case par plus index return, with exposure to losses
Call option:	At par on any interest payment date beginning on Feb. 28
Initial level:	1,186.331
Coupon barrier level:	771.11515, 65% of initial level
Trigger level:	50% of initial level
Pricing date:	Nov. 25
Settlement date:	Nov. 28
Underwriter:	Goldman Sachs & Co.
Fees:	4.2%
Cusip:	38147QMD5

© 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.