Published on 6/8/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.59 million callable monthly range accrual notes on Russell 2000
By Susanna Moon
Chicago, June 8 – GS Finance Corp. priced $6.59 million of callable monthly range accrual notes due May 31, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annual rate of 4.5% for each day that the index closes at or above the barrier level, 70% of the initial index level. Interest is payable monthly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable monthly range accrual notes
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Underlying index: | Russell 2000
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Amount: | $6,589,000
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Maturity: | May 31, 2027
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Coupon: | 4.5% annualized for each day that index closes at or above 75% barrier, payable monthlys
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning in May 31, 2018
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Initial index level: | 1,382.244
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Barrier level: | 1,036.683, 75% of initial level
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Pricing date: | May 26
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Settlement date: | May 31
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Agent: | Goldman Sachs & Co.
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Fees: | 3.7%
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Cusip: | 40054LB86
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