GS Finance plans autocallable contingent coupon notes on S&P, Stoxx

By Sarah Lizee

Olympia, Wash., Oct. 12 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due May 4, 2026 linked to the Euro Stoxx 50 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 monthly coupon at an annual rate of 7% if each index closes at or above 80% of its initial level on the review date for that month.

Beginning in October 2019 and ending in March 2026, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date.

The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 80% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond the 20% buffer.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EB23) will price on Oct. 25 and settle Oct. 30.

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