By Angela McDaniels
Tacoma, Wash., May 8 – Goldman Sachs Group, Inc. priced $2.65 million of callable quarterly range accrual notes due May 11, 2030 linked to Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is the interest factor multiplied by the proportion of days on which the index closes at or above the barrier level, 75% of the initial index level, and Libor is less than or equal to the Libor cap. Interest is payable quarterly.
The interest factor is 7% for the first 20 interest payment dates, 7.25% for the next 20 interest payment dates and 7.75% for the final 20 interest payment dates.
The Libor cap is 2.75% for the first 20 interest periods, 3.5% for the next 20 interest periods and 4.5% for the final 20 interest periods.
The payout at maturity will be par.
Beginning May 11, 2016, 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 quarterly range accrual notes
|
| Underlyings: | Libor, Russell 2000 index
|
| Amount: | $2.65 million
|
| Maturity: | May 11, 2030
|
| Coupon: | Interest factor multiplied by proportion of days on which index closes at or above barrier level and Libor is less than or equal to Libor cap; payable quarterly
|
| Interest factor: | 7% for first 20 interest payment dates, 7.25% for next 20 interest payment dates and 7.75% for final 20 interest payment dates.
|
| Libor cap: | 2.75% for first 20 interest periods, 3.5% for next 20 interest periods and 4.5% for final 20 interest periods
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Beginning May 11, 2016, at par on any interest payment date
|
| Initial index level: | 1,219.358
|
| Barrier level: | 914.5185, 75% of initial level
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.2%
|
| Cusip: | 38148T2V0
|
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