Published on 12/29/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3.57 million callable monthly range accrual notes on S&P
By Susanna Moon
Chicago, Dec. 29 – Goldman Sachs Group, Inc. priced $3.57 million of callable monthly S&P 500 index-linked range accrual notes due Dec. 29, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.75% for each day that the index closes at or above the 75% coupon barrier level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 40%, in which case investors will be fully exposed to any losses.
The notes will be callable at par on any interest payment date beginning March 29, 2015.
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: | $3,571,000
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Maturity: | Dec. 29, 2029
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Coupon: | 7.75% annualized per day that index closes at or above coupon barrier level
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Price: | Par
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Payout at maturity: | Par unless index falls 60% trigger level, in which case full exposure to any losses
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Call option: | At par on any interest payment date beginning March 29, 2015
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Initial level: | 2,082.17
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Coupon barrier: | 1,561.6275, 75% of initial level
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Trigger level: | 60% of initial level
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.65%
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Cusip: | 38147QQG4
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