Goldman plans trigger phoenix autocallables tied to S&P, Euro Stoxx

By Angela McDaniels

Tacoma, Wash., Sept. 14 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due Sept. 30, 2025 linked to the worst performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 8% to 8.6% per year and will be set at pricing.

Beginning in September 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par plus the final contingent coupon, if any, unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to the decline of the worse-performing index.

Goldman Sachs & Co. is the agent.

The notes are expected to price Sept. 28 and settle Sept. 30.

The Cusip number is 38148X290.

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