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GS Finance plans buffered range accrual notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Jan. 3 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due July 31, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The interest rate will be 7.2% per year multiplied by the proportion of days on which the index closes at or above the barrier level, 80% of the initial index level. Interest will be payable monthly.
Beginning Jan. 31, 2020, the notes will be callable at par on any interest payment date.
If the index return is at least negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
Goldman Sachs & Co. LLC is the agent.
The notes will price Jan. 28.
The Cusip number is 40056ER26.
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