By Toni Weeks
San Luis Obispo, Calif., April 30 – Goldman Sachs Group, Inc. priced $4.45 million of callable buffered 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 notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par unless the index finishes below the 80% trigger level, in which case investors will lose 1% for each 1% index decline beyond the 20% buffer.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $4.45 million
|
| Maturity: | Oct. 30, 2022
|
| Coupon: | 7.1% for each day that index closes at or above coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below trigger level, in which case exposure to losses beyond 20% buffer
|
| Call option: | At par on any interest payment date beginning April 30, 2016
|
| Initial level: | 1,259.357
|
| Coupon barrier/trigger: | 1,007.4856, 80% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.3%
|
| Cusip: | 38147QYM2
|
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