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Goldman to price callable monthly range accrual notes tied to Russell
By Tali Rackner
Norfolk, Va., Nov. 6 – Goldman Sachs Group, Inc. plans to price callable monthly Russell 2000 index-linked range accrual notes due Nov. 27, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.25% annualized for each day that the index closes at or above the 70% 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 lose 1% for every 1% decline beyond 50%.
The notes will be callable at par on any interest payment date beginning Nov. 27, 2016.
Goldman Sachs & Co. is the underwriter.
The notes will price on Nov. 23 and settle on Nov. 27.
The Cusip number is 38148THQ5.
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