GS Finance plans to price contingent income autocalls on Gilead

By Sarah Lizee

Olympia, Wash., May 15 – GS Finance Corp. plans to price contingent income autocallable securities due May 25, 2023 linked to the common stock of Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The guarantor is Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above the 60% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par of $10 plus any coupon unless the stock finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% share price decline.

Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.

The notes will price on May 22.

The Cusip number is 36259J308.

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