By Jennifer Chiou
New York, March 16 - Goldman Sachs Group, Inc. priced $2.69 million of callable quarterly range accrual notes due March 17, 2026 linked to the S&P 500 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8% for the first year. After that, the rate will 8% per year multiplied by the proportion of days on which the index closes above 70% of the initial level and Libor is 7% or less. Interest is payable quarterly.
The payout at maturity will be par.
Beginning March 17, 2012, 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
|
| Amount: | $2,687,000
|
| Maturity: | March 17, 2026
|
| Coupon: | 8% for first year; then 8% per year multiplied by proportion of days on which index closes above 70% of initial level and Libor is 7% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from March 17, 2012 onward
|
| Initial index level: | 1,296.39
|
| Pricing date: | March 14
|
| Settlement date: | March 17
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.96%
|
| Cusip: | 38143URU7
|
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