GS Finance plans contingent income autocallables on Bank of America

By Wendy Van Sickle

Columbus, Ohio, Dec. 23 – GS Finance Corp. plans to price contingent income autocallable securities due Jan. 3, 2020 linked to the common stock of Microsoft Corp., according to an FWP filing with the Securities and Exchange Commission.

Goldman Sachs Group Inc. is guarantor.

If the shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent coupon that quarter at an annualized rate of 8.5%.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any of the quarterly determination dates.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Goldman Sachs & Co. is the agent. Morgan Stanley Smith Barney LLC is acting as dealer.

The notes will price on Dec. 29.

The Cusip number is 36251U541.

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