Published on 2/28/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3.72 million callable buffered monthly range accrual notes on S&P 500
By Susanna Moon
Chicago, Feb. 28 - Goldman Sachs Group, Inc. priced $3.72 million of callable buffered monthly S&P 500 index-linked range accrual notes due Dec. 26, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.75% for each day that the index closes at or above the 80% coupon barrier level. Interest will be payable monthly.
The payout at maturity will be par if the index falls by up to 20%, and investors will to any losses beyond 20%.
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.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,718,000
|
| Maturity: | Feb. 28, 2021
|
| Coupon: | 5.75% per day that index closes at or above the 80% coupon barrier; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the index falls by more than buffer, in which case exposure to losses beyond buffer
|
| Call option: | At par on any interest payment date beginning Feb. 28, 2015
|
| Initial level: | 1,845.12
|
| Trigger level: | 1,476.096, 80% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.23%
|
| Cusip: | 38147QLK0
|
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