Goldman plans autocallable contingent coupon notes on Bank of America

By Marisa Wong

Morgantown, W.Va., Dec. 9 – Goldman Sachs Group, Inc. plans to price autocallable contingent coupon equity-linked notes due Dec. 29, 2016 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 10% if Bank of America stock closes at or above the barrier price, 78.75% of the initial price, on the valuation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if Bank of America shares close at or above the initial share price on any quarterly valuation date.

If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price.

Goldman Sachs & Co. and J.P. Morgan Securities LLC are the agents.

The notes are expected to price Dec. 11 and settle Dec. 16.

The Cusip number is 38148TKK4.

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