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Goldman plans callable buffered range accrual notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 4 - Goldman Sachs Group, Inc. plans to price six-year callable monthly buffered range accrual notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6.5% per year multiplied by the proportion of days on which the index's closing level is greater than or equal to 80% of the initial index level. Interest will be payable monthly.
If the final index level is greater than or equal to 80% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
Beginning in October 2013, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 38143U7S4.
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