Goldman plans 8.6% contingent coupon autocallables tied to two stocks

By Susanna Moon

Chicago, Aug. 17 – GS Finance Corp. plans to price autocallable contingent coupon notes due Sept. 4, 2020 linked to the common stocks of Deere & Co. and Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 8.6% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date from February 2018 through May 2020.

The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. is the underwriter.

The notes will price on Aug. 28 and settle on Aug. 31.

The Cusip number is 40054LPL2.

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