Goldman plans trigger phoenix callable notes tied to two indexes

By Marisa Wong

Madison, Wis., June 10 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due June 18, 2020 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its barrier level, 70% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon of 1.75% to 1.875% for that quarter. Otherwise, no coupon will be paid that quarter.

The notes will be automatically called at par plus the coupon if both indexes close at or above their initial levels on any quarterly determination date.

If the notes are not called, the payout will be par plus the contingent coupon, if any, unless either index falls by more than 35%, in which case investors will be exposed to the decline of the worst-performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes will price on June 12 and settle on June 17.

The Cusip number is 38148W680.

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