Goldman plans contingent income callable notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, Sept. 19 – GS Finance Corp. plans to price contingent income callable securities due Oct. 24, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

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

The notes will pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its coupon barrier, 75% of its initial index level, on the observation day for that quarter.

The notes will be callable at par on any interest payment date from Oct. 4, 2017 to July 6, 2023.

The payout at maturity will be par unless either index finishes below its 55% downside threshold level, in which case investors will be fully exposed to any losses of the worse performing index.

Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is the dealer.

The notes will price on Sept. 30.

The Cusip number is 40054KKG0.

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