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GS Finance plans contingent coupon autocalls on Nasdaq, Russell, S&P
By Sarah Lizee
Olympia, Wash., Aug. 27 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due March 7, 2022 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 9.1% if each index closes at or above its trigger level, 60% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call date after six months.
The payout at maturity will be par unless any index closes below its 55% trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price on Aug. 28.
The Cusip number is 40057CPJ4.
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