Goldman plans trigger phoenix autocallables on Russell, Euro Stoxx

By Toni Weeks

San Luis Obispo, Calif., Feb. 17 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due Feb. 28, 2025 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.3% to 8.8% if each index closes at or above its coupon barrier level, 70% of its initial level, on an observation date for that quarter. The exact coupon will be determined at pricing.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.

If the notes are not called and each index finishes at or above its 70% coupon barrier level, the payout at maturity will be par plus the final coupon. If the return of either index is less than negative 30% but both indexes finish at or above the 50% trigger level, the payout will be par.

Otherwise, investors will be exposed to the decline of the worst-performing index.

Goldman Sachs & Co. is the underwriter.

The notes (Cusip: 38148L825) are expected to price Feb. 25 and settle Feb. 27.

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