Goldman Sachs to price variable-coupon notes linked to 10 stocks

By Toni Weeks

San Luis Obispo, Calif., Aug. 7 - Goldman Sachs Group, Inc. plans to price variable-coupon basket-linked notes due Aug. 28, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket includes Apple Inc., Deere and Co., Duke Energy Corp., Eli Lilly and Co., Freeport-McMoRan Copper & Gold Inc., Intel Corp., Merck & Co., Inc., Microsoft Corp., Mondelez International, Inc. and Pfizer Inc.

The notes will pay a coupon each year equal to the average of the basket stocks' performances, subject to a minimum coupon rate of 2%.

If a basket stock's return is zero or positive, its performance will be equal to the maximum stock return. If a basket stock's return is negative, its performance will be the greater of its return and negative 20%. The maximum stock return is expected to be 6.75% to 7.25% and will be set at pricing.

The payout at maturity will be par.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 38147QLE4) are expected to price Aug. 27 and settle Aug. 30.

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