Goldman plans callable quarterly range accrual notes on Russell, Libor

By Jennifer Chiou

New York, June 30 – Goldman Sachs Group, Inc. plans to price callable quarterly Russell 2000 index-linked range accrual notes due July 11, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 6.7% multiplied by the proportion of days on which the index closes at or above the barrier level, 60% of the initial index level, and Libor is 6% or less. Interest is payable quarterly.

The payout at maturity will be par if the index finishes at or above 60% of the initial level. Investors will be fully exposed to losses from the initial level if the index finishes below the 40% trigger.

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

The notes (Cusip: 38147QBU9) are expected to price on July 8.

Goldman Sachs & Co. is the underwriter.

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