By Toni Weeks
San Diego, Nov. 29 - Goldman Sachs Group, Inc. priced $5 million of callable monthly S&P 500 index-linked range accrual notes due Nov. 30, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6.25% multiplied by the proportion of days on which the index closes at or above the index trigger level, 80% of the initial level. Interest is payable monthly.
If the final index level is greater than or equal to 80% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to losses beyond the 20% buffer.
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 monthly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $5 million
|
| Maturity: | Nov. 30, 2018
|
| Coupon: | 6.25% per year multiplied by proportion of days on which the index is at or above 80% of initial level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 80% of initial level; otherwise, exposure to losses beyond 20% buffer
|
| Call option: | At par on any interest payment date beginning Nov. 30, 2013
|
| Initial index level: | 1,398.94
|
| Index strike level: | 1,119.152, 80% of initial level
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.95%
|
| Cusip: | 38141GHA5
|
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