Goldman plans 8.6% contingent income autocalls on Alibaba

By Susanna Moon

Chicago, Sept. 26 – GS Finance Corp. plans to price contingent income autocallable securities due Oct. 1, 2021 linked to Alibaba Group Holding Ltd. American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if the stock closes at or above the 65% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date after six months.

The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will lose 1% for each 1% decline.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

The notes will price on Sept. 28.

The Cusip number is 36256M106.

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