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GS Finance plans autocallable contingent coupon notes tied to indexes
By Sarah Lizee
Olympia, Wash., Oct. 11 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due Oct. 24, 2028 linked to the Dow Jones Industrial Average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 5.1% if each index closes at or above the coupon trigger level, 60% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus any coupon unless any index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056EAV0) will price on Oct. 17.
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