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

By Sarah Lizee

Olympia, Wash., Nov. 8 – GS Finance Corp. plans to price callable contingent coupon notes due Nov. 30, 2028 linked to the least performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon if both indexes close at or above 75% of their respective initial levels on the coupon payment date for that quarter. The annualized coupon will be 9% for the first 20 payment dates and 12% for the final 20 payment dates.

Beginning in November 2019 and ending in August 2028, the notes are callable in whole but not in part at par plus any contingent coupon on any coupon payment date.

The payout at maturity will be par unless either index finishes below 60% of its initial level, in which case investors will lose 1% for each 1% loss of the worst performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EFK9) will price on Nov. 28 and settle on Nov. 30.

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