GS Finance plans contingent coupon autocalls on Nasdaq, Russell, S&P

By Sarah Lizee

Olympia, Wash., July 16 – GS Finance Corp. intends to price autocallable contingent coupon notes due Jan. 25, 2022 linked to the worst performing of the Russell 2000 index, the S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 10% if each index closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period.

The notes will be automatically called at par if each index closes at or above its initial level on any quarterly coupon determination date.

If the notes are not called, the payout will be par if all the indexes close at or above their 50% threshold levels on each day during the life of the notes.

Otherwise, investors will be fully exposed to the losses of the worst performing index.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price on July 17.

The Cusip number is 40057CGL9.

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