GS Finance to price callable contingent coupon notes on Dow, Nasdaq

By Devika Patel

Knoxville, Tenn., July 6 – GS Finance Corp. plans to price callable contingent coupon notes due July 29, 2025 linked to the least performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent semiannual coupon at an annual rate of at least 5.75% if both indexes close at or above 80% of their respective initial levels on the coupon payment date for that period. The exact coupon will be set at pricing.

Beginning in January 2021 and ending in January 2025, the notes are callable in whole but not in part at par plus any coupon on any coupon payment date.

The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 80% of its initial level, in which case investors will lose 1% for each 1% loss of the worst performing index beyond the 20% buffer.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40057CFM8) will price on July 24 and settle on July 29.

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