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GS Finance plans contingent coupon autocallables linked to Amazon
By Marisa Wong
Morgantown, W.Va., Dec. 14 – GS Finance Corp. plans to price autocallable contingent coupon notes due Dec. 20, 2018 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.1% if the shares close at or above their barrier level, 75% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par if the shares close at or above their initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon, unless the stock return is less than negative 25%, in which case investors will be fully exposed to the decline of the stock.
Goldman Sachs & Co. is the underwriter.
The notes will price Dec. 16.
The Cusip number is 40054KS72.
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