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Goldman plans 8.5%-9.5% contingent coupon autocalls on two stocks
By Susanna Moon
Chicago, Aug. 23 – GS Finance Corp. plans to price autocallable contingent coupon notes due Sept. 7, 2021 linked to the least performing of the common stocks of AT&T Inc. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9.5% if each underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
The notes will price on Aug. 29.
The Cusip number is 40055QUA8.
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