Goldman Sachs plans range accrual notes tied to Russell 2000, S&P 500

By Angela McDaniels

Tacoma, Wash., June 2 - Goldman Sachs Group, Inc. plans to price callable monthly range accrual notes due June 11, 2029 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 6.25% per year multiplied by the proportion of days on which each index's closing level is greater than or equal to 50% of its initial index level. Interest will be payable monthly.

If each index's return is greater than or equal to negative 50%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index's final level is less than its initial level.

Beginning June 11, 2015, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The notes are expected to price June 6 and settle June 11.

The Cusip number is 38147Q7C4.

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