New Issue: Goldman Sachs prices $2.18 million callable range accrual notes on S&P 500, Libor

By Toni Weeks

San Diego, Sept. 14 - Goldman Sachs Group, Inc. priced $2.18 million of callable quarterly range accrual notes due Sept. 15, 2026 linked to the S&P 500 index and the Libor rate, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 8% for the first two years. After that, interest will accrue at 8% per year multiplied by the proportion of days on which the index closes above 67.5% of the initial level and Libor is 6.5% or less. Interest is payable quarterly.

The payout at maturity will be par.

After one year, 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
Underlying components:	S&P 500 index, Libor
Amount:	$2,181,000
Maturity:	Sept. 15, 2026
Coupon:	8% for first year; after that, 8% per year multiplied by proportion of days on which S&P 500 is above 67.5% of initial level and Libor is less than 6.5%; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning Sept. 15, 2012
Initial index level:	1,162.27
Index trigger level:	784.53225, 67.5% of initial level
Pricing date:	Sept. 12
Settlement date:	Sept. 15
Agent:	Goldman Sachs & Co.
Fees:	4.33%
Cusip:	38143UC41

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.