GS Finance plans contingent coupon autocallables on S&P, Dow Jones

By Tali Rackner

Norfolk, Va., Sept. 9 – GS Finance Corp. plans to price autocallable contingent coupon notes due Sept. 28, 2022, linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Each quarter, the notes will pay a contingent coupon at an annual rate of 5.85% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.

Beginning in March 2017, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.

If each index finishes at or above 75% of its initial level, the payout will be par plus the contingent coupon. The payout will be par if either finishes at or above negative 40%; otherwise, investors will be fully exposed to the decline of the worse-performing index.

Goldman Sachs & Co. is the underwriter.

The notes will price on Sept. 21 and settle on Sept. 28.

The Cusip number is 40054KKE5.

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