Published on 3/29/2012 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $11.5 million callable range accrual notes on S&P 500, six-month Libor
By Susanna Moon
Chicago, March 29 - Goldman Sachs Group, Inc. priced $11.5 million of callable monthly range accrual notes due March 30, 2027 linked to the S&P 500 index and six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will accrue at an annualized rate of 8.75% for each day that the index closes above the 74.065% trigger level and six-month Libor is 6% or less. Interest will be payable monthly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable monthly range accrual notes
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Underlying index: | S&P 500
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Amount: | $11.5 million
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Maturity: | March 30, 2027
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Coupon: | 8.75% for each day that day index closes above trigger level and six-month Libor is 6% or less; payable monthly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning March 30, 2013
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Initial index level: | 1,412.52
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Index trigger level: | 1,046.182938, 74.065% of initial level
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Pricing date: | March 27
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Settlement date: | March 30
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Agent: | Goldman Sachs & Co.
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Fees: | 5%
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Cusip: | 38143UT76
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