GS Finance plans autocallable contingent coupon notes tied to indexes

By Devika Patel

Knoxville, Tenn., May 22 – GS Finance Corp. plans to price autocallable contingent coupon notes due Sept. 2, 2021 linked to the S&P 500 index and the Russell 2000 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 quarterly coupon at an annual rate of 9.15% if each index closes at or above its coupon trigger level, 75% of the initial level, on the review date for that quarter.

Beginning in August 2020 and ending in May 2021, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.

The payout at maturity will be par plus the final coupon unless either index closes below the 50% trigger level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40057C3S8) will price on May 26 and settle May 29.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.