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Goldman plans trigger phoenix autocallables tied to Russell, Euro Stoxx
By Susanna Moon
Chicago, Aug. 11 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due Aug. 23, 2018 linked to the worse performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at annual rate of 7.9% to 8.35% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Feb. 17, 2016.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs & Co. is the agent.
The notes will price on Aug. 17 and settle on Aug. 20.
The Cusip number is 38148X183.
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