Goldman plans autocallable contingent coupon notes linked to S&P 500

By Marisa Wong

Madison, Wis., July 6 – Goldman Sachs Group, Inc. plans to price 60-month autocallable contingent coupon notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at the rate of 7.2% to 8.2% per year if the index closes at or above 75% of the initial level on the determination date for that period.

The notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any coupon determination date.

If the notes have not been called and the index return is greater than or equal to negative 25%, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the index’s decline.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38148T6W4.

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