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GS Finance to price callable contingent coupon notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – GS Finance Corp. plans to price callable contingent coupon index-linked notes due Jan. 29, 2020 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
Beginning in January 2017, the notes will be callable on any contingent coupon payment date.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 60% barrier level, in which case investors will be fully exposed to the loss of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
The notes will price on Jan. 27 and settle on Jan. 29.
The Cusip number is 40054CBB9.
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