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Goldman to price callable monthly range accrual notes on Russell 2000
By Toni Weeks
San Luis Obispo, Calif., April 2 – Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due Oct. 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.1% for each day that the index closes at or above the 80% coupon barrier level. Interest is payable monthly.
The payout at maturity will be par unless the index finishes below 80% of the initial level, in which case investors will receive par plus the index return, with full exposure to losses.
The notes will be callable at par on any interest payment date beginning April 30, 2016.
Goldman Sachs & Co. is the underwriter.
The notes will price April 28 and settle April 30.
The Cusip number is 38147QYM2.
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