GS Finance plans contingent income callable securities on S&P

By Sarah Lizee

Olympia, Wash., Aug. 27 – GS Finance Corp. plans to price contingent income callable securities due Sept. 2, 2021 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

Each quarter, the notes pay a contingent coupon at the rate of 5.3% per year if the index closes at or above its coupon threshold level, 65% of its initial level, on the determination date for that quarter.

The notes will be callable at par on any quarterly coupon payment date.

If the index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. If the final index level is less than the downside threshold level, investors will be fully exposed to the index’s decline from its initial level.

Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.

The notes will price on Aug. 28.

The Cusip number is 40057CPG0.

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