GS Finance plans step down trigger autocallables tied to S&P, Russell

By Devika Patel

Knoxville, Tenn., Oct. 6 – GS Finance Corp. plans to price 0% step down trigger autocallable notes due Oct. 19, 2022 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 are guaranteed by Goldman Sachs Group, Inc.

The notes will be automatically called at par of $10 plus a call premium – expected to be 7% to 8% per year – if each index closes at or above its initial level on any annual observation date beginning on Oct. 18, 2018.

If the notes are not subject to an automatic call, and the final level of the worst performing index is higher than or equal to its downside threshold, 75% of its initial level, investors will receive par plus a premium that is expected to be between 35% and 40% and will be set at pricing. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 36254F152) will price on Oct. 13 and settle Oct. 18.

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