GS Finance eyes trigger callable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., July 17 – GS Finance Corp. plans to price trigger callable contingent yield notes due July 23, 2029 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 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.

Each quarter, the notes pay a contingent coupon at the rate of 7% per year if each index’s closing level closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

The notes are redeemable at par on any coupon payment date starting July 22, 2020.

If the notes are not called and each index finishes at or above its downside threshold, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as selling agent.

The notes will price July 19.

The Cusip number is 36257W350.

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