By Angela McDaniels
Tacoma, Wash., Nov. 30 – Goldman Sachs Group, Inc. priced $1.24 million of callable quarterly range accrual notes due Nov. 27, 2030 linked to six-month Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is the applicable rate – 5.75% per year for the first 40 quarters and 8% per year for the final 20 quarters – multiplied by the proportion of days on which the index closes at or above the barrier level, 70% of the initial index level, and six-month Libor is less than or equal to 6%. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Nov. 27, 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: | Six-month Libor, Russell 2000
|
| Amount: | $1.24 million
|
| Maturity: | Nov. 27, 2030
|
| Coupon: | Applicable rate (5.75% per year for first 40 quarters and 8% per year for final 20 quarters) multiplied by proportion of days on which index closes at or above barrier level and six-month Libor is less than or equal to 6%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Beginning Nov. 27, 2016, at par on any interest payment date
|
| Initial index level: | 1,180.359
|
| Barrier level: | 826.2513, 70% of initial level
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.3%
|
| Cusip: | 38148TJ59
|
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