New Issue: Goldman Sachs prices $2 million range accrual notes linked to S&P 500, Libor

By Angela McDaniels

Tacoma, Wash., Aug. 20 – Goldman Sachs Group, Inc. priced $2 million of callable quarterly range accrual notes due Aug. 21, 2030 linked to Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 6.85% per year multiplied by the proportion of days on which the index closes at or above the barrier level, 65% of the initial index level, and Libor is less than or equal to 4%. Interest is payable quarterly.

The payout at maturity will be par.

Beginning Aug. 21, 2016, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable quarterly range accrual notes
Underlyings:	Libor, S&P 500 index
Amount:	$2 million
Maturity:	Aug. 21, 2030
Coupon:	6.85% per year multiplied by proportion of days on which index closes at or above barrier level and Libor is less than or equal to 4%; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	Beginning Aug. 21, 2016, at par on any interest payment date
Initial index level:	2,096.92
Barrier level:	1,362.998, 65% of initial level
Pricing date:	Aug. 18
Settlement date:	Aug. 21
Underwriter:	Goldman Sachs & Co.
Fees:	2.05%
Cusip:	38148TCP2

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