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Goldman plans callable buffered monthly range accrual notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 5 – Goldman Sachs Group, Inc. plans to price callable buffered monthly S&P 500 index-linked range accrual notes due Feb. 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6.25% for each day that the index closes at or above the 80% coupon barrier level. Interest is payable monthly.
The payout at maturity will be par if the index finishes at or above the 80% buffer level.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
The notes will be callable at par on any interest payment date beginning Aug. 31, 2016.
Goldman Sachs & Co. is the underwriter.
The notes will price on Aug. 27 and settle on Aug. 31.
The Cusip number is 38148TBK4.
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