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GS Finance plans to price callable buffered range accrual notes on S&P
By Tali Rackner
Norfolk, Va., April 13 – GS Finance Corp. plans to price callable buffered monthly S&P 500 index-linked range accrual notes due Oct. 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The interest rate will be 6.1% per year multiplied by the proportion of days on which the index closes at or above the underlier barrier level, 80% of the initial index level. Interest will be payable monthly.
If the index return is greater than or equal to 80% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to any losses.
Beginning April 29, 2017, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
The notes will price on April 26 and settle on April 29.
The Cusip number is 40054KAN6.
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