GS Finance plans contingent income autocalls on three tech stocks

By Emma Trincal

New York, Sept. 17 – GS Finance Corp. plans to price 0% contingent income autocallable securities due Sept. 28, 2023 linked to the worst performing of Apple Inc., Amazon.com, Inc. and Microsoft Corp., according to an FWP filing 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 11.4% per year if each stock closes at or above its trigger level, 60% of its initial level, on the observation date for that period.

The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly call date.

The payout at maturity will be par unless any stock closes below its 60% trigger level, in which case investors will lose 1% for every 1% decline of the least-performing stock from its initial level.

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

The notes will price on Sept. 25 and settle on Sept. 30.

The Cusip number is 36259L683.

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