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Goldman plans 8% contingent coupon autocallables linked to Chevron
By Susanna Moon
Chicago, July 13 – GS Finance Corp. plans to price autocallable contingent coupon notes due Aug. 3, 2021 linked to Chevron Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the underlying stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any review date.
The payout at maturity will be par unless the stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
The guarantor is Goldman Sachs Group, Inc.
The notes are expected to price on July 27.
Goldman Sachs & Co. LLC is the agent.
The Cusip number is 40055QMM1.
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