Published on 6/28/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $9 million callable range accrual notes linked to S&P 500
By Susanna Moon
Chicago, June 28 - Goldman Sachs Group, Inc. priced $9 million of S&P 500 index-linked range accrual notes due June 28, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 6% for each day that the index closes at or above the 75% barrier level. Interest is 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: | Range accrual notes
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Underlying index: | S&P 500
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Amount: | $9,009,000
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Maturity: | June 28, 2028
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Coupon: | 6% for each day that index closes at or above barrier level; 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 June 28, 2014
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Initial index level: | 1,588.03
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Trigger level: | 1,191.0225, 75% of initial level
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Pricing date: | June 25
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Settlement date: | June 28
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.9%
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Cusip: | 38147QAF3
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