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Goldman plans contingent interest autocallables tied to S&P, Russell
By Susanna Moon
Chicago, Feb. 22 – GS Finance Corp. plans to price autocallable contingent interest notes due Aug. 31, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 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 5.25% to 6% if each index closes at or above its coupon barrier, 70% of its initial level, on a quarterly review date.
The notes will be called at par if each index closes at or above its initial level on any review date from August 2017 through May 2018.
The payout at maturity will be par 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 Feb. 24 and settle on Feb. 28.
The Cusip number is 40054KVK9.
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