GS Finance plans to price contingent coupon autocalls tied to Netflix

By Sarah Lizee

Olympia, Wash., July 16 – GS Finance Corp. plans to price contingent coupon autocallable notes due July 26, 2022 linked to Netflix, Inc. 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 11.5% if the underlying stock closes at or above its 65% coupon barrier on the observation date for that period.

Starting in January, the notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below its 65% barrier level, in which case investors will be fully exposed to the decline of the stock from its initial price.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price on July 19.

The Cusip number is 40056FUR4.

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