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Goldman plans callable buffered monthly range accrual notes on Russell
By Susanna Moon
Chicago, Nov. 4 – GS Finance Corp. plans to price callable buffered monthly range accrual notes due Nov. 30, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annual rate of 5% for each day that the index closes at or above the coupon barrier level, 80% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
The notes will price on Nov. 28 and settle on Nov. 30.
The Cusip number is 40054KNE2.
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