By Toni Weeks
San Diego, June 29 - Goldman Sachs Group, Inc. priced $5.3 million of buffered index-linked range accrual notes due June 29, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.4% per year multiplied by the proportion of days on which the index closes above 80% of the initial level. Interest is payable monthly.
If the index closes at or above 80% of the initial level, the payout at maturity will be par. If the index closes below the 80% trigger level, investors will lose 1% for every 1% decline beyond the 20% buffer.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Buffered index-linked range accrual notes
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Underlying index: | S&P 500 index
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Amount: | $5.3 million
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Maturity: | June 29, 2017
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Coupon: | 7.4% per year multiplied by the proportion of days on which the index closes above 80% of the initial level; payable monthly
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Price: | Par
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Payout at maturity: | Par
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Initial index level: | 1,331.85
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Index trigger level: | 1,065.48, 80% of initial level
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Pricing date: | June 27
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Settlement date: | June 29
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Agent: | Goldman Sachs & Co.
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Fees: | 4.35%
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Cusip: | 38143UW72
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