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Goldman plans callable monthly range accrual notes tied to Russell
By Susanna Moon
Chicago, Aug. 15 – GS Finance Corp. plans to price callable monthly range accrual notes Aug. 31, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 4.5% for each day that the index closes at or above the coupon barrier, 75% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 75%, in which case investors will lose 1% for each 1% decline.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
The notes will price on Aug. 29 and settle on Aug. 31.
The Cusip number is 40054LMP6.
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