By Toni Weeks
San Luis Obispo, Calif., April 22 – Goldman Sachs Group, Inc. priced $2 million of callable monthly Russell 2000 index-linked range accrual notes due April 22, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7.4% for each day that the index closes at or above the 70% coupon barrier level. Interest is payable monthly.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par unless the index finishes below the 70% trigger level, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2 million
|
| Maturity: | April 22, 2025
|
| Coupon: | 7.4% for each day that index closes at or above coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below trigger level, in which case full exposure to losses
|
| Call option: | At par on any interest payment date beginning April 22, 2016
|
| Initial level: | 1,251.858
|
| Coupon barrier/trigger: | 876.3006, 70% of initial level
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.35%
|
| Cusip: | 38147QZ33
|
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