GS Finance eyes contingent coupon autocalls on S&P 500 Value, Russell

By Sarah Lizee

Olympia, Wash., Aug. 21 – GS Finance Corp. plans to price autocallable contingent coupon notes due Aug. 29, 2028 linked to the worst performing of the S&P 500 Value index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes pay a contingent coupon at an annual rate of 9.5% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that period.

The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date after six months.

If the notes are not called, the payout will be par if both indexes close above their 85% of their initial levels.

Otherwise, investors will be exposed to the losses of the worst performing index beyond 15%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price on Aug. 24.

The Cusip number is 40057CPM7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.