By Jennifer Chiou
New York, Dec. 14 - Goldman Sachs Group, Inc. priced $7.32 million of callable quarterly range accrual notes due Dec. 15, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and is equal to 7% for the first two years. After that, the interest rate will be 7% per year for each quarter that the index closes above the buffer level - 77% of the initial level - on the relevant observation date. If the index closes at or below the buffer level on the observation date, no interest will be paid that quarter.
The payout at maturity will be par.
Beginning Dec. 15, 2011, 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
|
| Underlying index: | S&P 500
|
| Amount: | $7,322,000
|
| Maturity: | Dec. 15, 2025
|
| Coupon: | 7% for first two years; then 7% per year if index closes above buffer level or zero if index closes at or below buffer level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from Dec. 15, 2011 onward
|
| Initial level: | 1,240.40
|
| Trigger level: | 955.108, 77% of initial level
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 4.11%
|
| Cusip: | 38143UQF1
|
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